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Electric vehicles (EVs) achieved a major milestone in the UK last month, with one in every four cars sold being battery-powered, according to the Society of Motor Manufacturers and Traders (SMMT).
New registrations of battery electric vehicles (BEVs) soared by 58.4% in November, cementing their market share at 25.1%.
This growth comes as manufacturers introduce significant price cuts and discounts to meet the UK Government’s Zero Emission Vehicle (ZEV) mandate. The mandate requires 22% of new car sales to be zero-emission vehicles by 2024, but the SMMT warns that the industry is likely to fall short of this target by approximately 3%.
Car manufacturers have responded to the challenge by slashing prices and offering incentives, totalling an estimated £4 billion in discounts this year. Despite this EV boom, the broader new car market remains under pressure. Total new car registrations fell by 1.9% in November compared to the same period last year, with just over 153,600 vehicles leaving dealerships.
Sales to private buyers dropped 3.3%, while fleet purchases dipped by 1.1%. November marked the second consecutive monthly decline and the third drop in four months.
While the electric vehicle market has emerged as a bright spot, the SMMT emphasised that achieving the ZEV mandate will require continued government support and greater consumer incentives as the UK transitions toward a more sustainable future.
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