EVs increasing market share

Electric vehicles (EVs) look set to close in on clinching about one-quarter of the new-vehicle market this year, according to the latest industry figures.

In the nine months to the end of September, EVs accounted for 22.85 per cent of registrations and vehicles with an internal combustion engine (ICE) had a 77.15 per cent share of sales.

Figures from the Motor Industry Association show non-ICE vehicles got no higher than 16.8 per cent of the market in the first three months of 2022 but have topped 20 per cent every month since, peaking at 39.3 per cent in April.

In contrast, ICE vehicles had their highest share of 88.8 per cent in January but have dropped below 70 per cent in the past two months.

EVs made up 30.8 per cent of new-vehicle sales last month, while traditional petrol and diesel models took out 69.2 per cent.

A further breakdown of the numbers reveals battery electric vehicles (BEVs) have an 8.3 per cent market share in the year to date, with plug-in hybrids (PHEVs) scoring 4.4 per cent.

Hybrids account for one in every 10 new-vehicle sales and hold 10.1 per cent of the market so far, while petrol and diesel vehicles are on 42 per cent and 35.2 per cent respectively.

BEVs extended their dominance of the EV market alone by clinching 52.7 per cent of sales in September to follow a 53.2 per cent share in August. Such vehicles now have a 36.4 per cent share year to date.

The category’s performance was bolstered last month by Tesla’s Model Y, which had 1,502 registrations compared with 581 in August, and the MG ZS jumping from 22 units to 178.