According to the Society of Motor Manufacturers and Traders (SSMT), 153,610 new cars were registered in the UK during November. This is 1.9% lower than the same month a year ago.
Battery electric vehicle (BEV) registrations rose for an 11th successive month, up 58.4% to 38,581 units, representing 25.1% of the overall market but driven by heavy manufacturer discounting.
The SMMT said that with the best market share since December 2022, November is just the second month this year in which BEV uptake has reached mandated levels, albeit against the backdrop of a declining overall market.
The trade body noted that while manufacturers are committed to the mandate’s ambition, market demand for EVs remains weak and below the levels expected when the regulation was drawn up by the previous Government.
The industry now expects the UK’s BEV market share to be 18.7% in 2024, although a strong December performance could raise that to 19%. However, this is still short of the 22% mandated target for the year.
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This year’s growth cements Britain as Europe’s second-biggest new BEV market by volume, closing the gap on leader Germany. The SMMT said it reflects long-term manufacturer investment in new models, with more than 130 zero-emission choices now available – up more than 42% on a year ago – on which the sector is offering record discounts.
While this is providing some success, the SMMT said the scale of discounting – worth some £4bn across 2024 – is “unsustainable and poses a risk to future consumer choice and UK economic growth”.
According to the latest industry outlook, BEV registrations will need to grow by an additional 53% in 2025 if next year’s 28% mandated target is to be met – equivalent to 90,000 more businesses and consumers making the switch than the industry outlook expects.
Mike Hawes, SMMT’s chief executive, said: “Manufacturers are investing at unprecedented levels to bring new zero-emission models to market and spending billions on compelling offers. Such incentives are unsustainable – industry cannot deliver the UK’s world-leading ambitions alone. It is right, therefore, that Government urgently reviews the market regulation and the support necessary to drive it, given EV registrations need to rise by over a half next year.
“Ambitious regulation, a bold plan for incentives and accelerated infrastructure roll-out are essential for success, else UK jobs, investment and decarbonisation will be at further risk.”
Looking at car sales as a whole, deliveries of new cars fell by 1.9% in the UK during November, with 153,610 joining the road.
Demand from private buyers, among whom uptake has waned for two years, dropped by 3.3% to 58,496 units, accounting for fewer than four in 10 (38.1%) new registrations. Fleet purchases, which represent the bulk (59.9%) of the market, fell by 1.1% to 91,993 units, while low-volume business demand rose by 5.2% to 3,121 units.
November saw double-digit falls in registrations of petrol (-17.7%) and diesel (-10.1%) cars, with petrol remaining the most popular powertrain. Hybrid and plug-in hybrid uptake also declined by 3.6% and 1.2% respectively.
