New figures from the Society of Motor Manufacturers and Traders show the first year of mandated targets for new zero emission vehicles finished with another strong December performance, with 43,656 new battery electric vehicle registrations accounting for 31.0% of the market.
That figure, which is the highest since December 2022’s record 32.9% means BEVs made up 19.6% of the market (381,970 units) in 2024, up by more than a fifth (67,283 units) from last year, but short of the 22% demanded by the Government’s sales mandate.
The SMMT says industry has “pulled every lever” to try and achieve this target, with manufacturer discounting totalling more than £4.5 billion in 2024, which is says is not sustainable in the long term.
The SMMT adds that billions of pounds of investment in new technologies and products over the past decade have delivered a record 132 ZEV models to the UK market, up 38% since 2023 to account for a third of all models available, with an average range of almost 280 miles – more than two weeks’ of driving for most people.
The Society adds that one of the major constraints to growth has been lacklustre demand by private buyers, with only one in 10 choosing an EV in 2024. Petrol remained the most popular powertrain among these buyers, commanding 61.0% of demand, with hybrid electric vehicles (HEVs) in second place (16.0%).
Conversely, around 64,000 more BEVs were registered by businesses and fleets than a year ago, with such vehicles representing a quarter (25.4%) of their registrations, which the SMMT puts down to the effectiveness of the compelling tax incentives offered to non-private buyers.
(Picture – Yay Images)
