Skip advert
Advertisement

Almost 1 in 5 new cars is an EV, but it isn’t enough to hit UK targets

EV sales were up in July, but it’s still not enough to meet the UK’s strict ZEV mandate electrification targets

The UK car industry has once again called on the government to incentivise private sales of EVs. While almost one in five new cars sold last month were electric, demand still lags behind what is required by the strict ZEV mandate rules.

In July 2024, market share for EVs rose by 18.8 per cent to an overall share of 18.5 per cent. This may seem like good news for the UK’s transition to electric power, but EV market share still idles at just 16.5 per cent year-to-date, which is a long way away from the 19.8 per cent that the industry was previously hoping to achieve by the end of 2024 and the 22 per cent required for each manufacturer under the new ZEV mandate rules.

The drive to increase EV sales isn’t helped by waning support from private buyers; the cost of buying a new electric car remains relatively high compared to the petrol equivalent, despite the arrival of some cheaper new EV models in recent months. Thus, units sold privately account for roughly only 17 per cent of EV registrations, despite the overall volume of sales rising marginally by around one per cent.

Advertisement - Article continues below

Representing the UK’s car industry, the Society of Motor Manufacturers and Traders (SMMT) chief executive, Mike Hawes, said that the muted private demand for EVs is “the over-riding concern”.

“More people than ever are buying and driving EVs but we still need the pace of change to quicken, else the UK’s climate change ambitions are threatened and manufacturers’ ability to hit regulated EV targets are at risk.”

Hawes called for the UK government to bring “action on incentives” – the SMMT previously called for VAT to be slashed on EVs bought privately, as well as a tax cut on public charging – ahead of the new 74-registration plate coming in September.

It’s not all bad news, though; car sales overall were up by 2.5 per cent last month, marking two years of sustained growth since the COVID-19 pandemic and other geopolitical events, took their toll on the industry.

Now, the SMMT expects the Bank of England’s recent cut in interest rates to make car finance cheaper and more accessible than it was before, catering to what it calls a “pent-up demand”.

Want the latest car news in your inbox? Sign up to the free Auto Express email newsletter...

Skip advert
Advertisement
Consumer reporter

Tom is Auto Express' Consumer reporter, meaning he spends his time investigating the stories that matter to all motorists - enthusiasts or otherwise. An ex-BBC journalist and Multimedia Journalism graduate, Tom previously wrote for partner sites Carbuyer and DrivingElectric and you may also spot him throwing away his dignity by filming videos for the Auto Express social media channels.

Skip advert
Advertisement

Recommended

Kia UK boss calls for clear ZEV roadmap, plus “modest” consumer incentives
Kia's UK boss, Paul Philpott standing next to a Kia EV6

Kia UK boss calls for clear ZEV roadmap, plus “modest” consumer incentives

Brand CEO says ZEV mandate is a threat, asking for clarity from the Labour government
News
6 Jan 2025
Car finance scandal: Supreme Court hearing could halve number of claimants
Finance contract, car key and calculator on desk

Car finance scandal: Supreme Court hearing could halve number of claimants

Scandal involving car finance commission could see motorists entitled to billions of pounds in payouts
News
19 Dec 2024
Dieselgate is back! Thousands of cars could be recalled as scandal returns
Emissions tests questioned

Dieselgate is back! Thousands of cars could be recalled as scandal returns

The DfT is currently investigating as many as 47 models across several brands that are suspected to use diesel defeat devices
News
14 Nov 2024
MoT failure rate is worse for vans than cars
MOT

MoT failure rate is worse for vans than cars

More than a third of light commercials failed their first MoT last year, new figures show
News
12 Nov 2024

Most Popular

New Volkswagen Transporter Shuttle 2025 review: makes 7-seater SUVs feel cramped
Volkswagen Transporter e-Shuttle - front

New Volkswagen Transporter Shuttle 2025 review: makes 7-seater SUVs feel cramped

The Ford-based Volkswagen Transporter Shuttle is refined, good to drive and has plenty of space in all three rows
Road tests
14 Feb 2025
It’s not just electric cars that are overpriced
Opinion - expensive cars

It’s not just electric cars that are overpriced

Not matter how good a new car might be, Mike Rutherford thinks it will ultimately fail if it's overpriced
Opinion
16 Feb 2025
Ford Capri vs Cupra Tavascan: similar, stylish but only one can win
Ford Capri and Cupra Tavascan - front tracking

Ford Capri vs Cupra Tavascan: similar, stylish but only one can win

Ford brought back the iconic Capri name for its new coupé-SUV, which shares its platform with the fresh Cupra Tavascan. Which is the top dog?
Car group tests
15 Feb 2025

Find a car with the experts