BEVs hit million milestone in UK
The UK registered its millionth battery electric vehicle (BEV) last month as new-car sales reached 142,876 units, up 8.2 per cent from the same month a year ago.
January’s figures were the best performance for the month since 2020 and marked the 18th consecutive month of growth for the industry, according to the Society of Motor Manufacturers and Traders (SMMT)
The latest increase was driven entirely by the fleet market, which rose by 29.9 per cent, while private retail uptake tumbled by 15.8 per cent.
Fleets accounted for more than six in every 10, or 63.2 per cent, of new cars registered in January, up from 52.7 per cent last year.
BEVs hit the million-milestone after 20,935 zero-emitters were sold last month, a rise of 21 per cent year on year, taking the overall total since 2002 to 1,001,677 units.
The market share for BEVs also grew to 14.7 per cent last month, although this was below the full 2023 tally of 16.5 per cent.
Plug-in hybrids (PHEVs) recorded volume growth of 31.1 per cent to take out 8.4 per cent of the market, while hybrid registrations fell 1.2 per cent to end January with a 13.1 per cent share.
The SMMT notes fleet and business demand for BEVs grew by 41.7 per cent last month, when compared with a year ago, but registrations by private buyers fell by 25.1 per cent.
Industry figures say private consumers need more support to switch to low and zero-emissions vehicles and are calling for the UK government to temporarily halve value added tax (VAT) on new BEV purchases.
Mike Hawes, SMMT chief executive, adds: “It’s taken just over 20 years to reach our million EV milestone – but with the right policies, we can double down on that success in just another two.
“Market growth is currently dependent on businesses and fleets. Government must therefore use the upcoming Budget to support private EV buyers, temporarily halving VAT to cut carbon, drive economic growth and help everyone make the switch.”
The latest 2024 outlook for the UK’s new-car market estimates 1.974 million units will be sold, which is a 4,000-unit increase on the October estimate.
However, the market share forecast for BEVs this year has been reduced to 21 per cent from the 22.3 per cent anticipated in October.
