Only 10% of new EVs are being sold to private individuals.
Although total EV sales in 2024 were up, the vast majority of these were to businesses and fleets.
There were 1,952,778 new cars in 2024 – a rise of 2.6% on the previous year, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
The controversial ZEV mandate has increased sales, with BEVs now 19.6% of the market (381,970 units) in 2024, up on 2023 but short of the 22% demanded by the mandate.
Much of these sales have been pushed by manufacturers offering £4.5 billion of discounts, an amount that is not sustainable in the long term says the SMMT.
There are now 132 ZEV models on the UK market, with an average range of almost 280 miles but it’s still not enough of a draw – with only one in 10 private buyers choosing an EV.
ICE cars still preferred
Petrol remained the most popular car bought at 61.0%, with hybrid electric vehicles (HEVs) in second place at 16.0%.
Conversely, around 64,000 more BEVs were registered by businesses and fleets than a year ago.
Mike Hawes, SMMT Chief Executive said, “A record year for EV registrations underscores vehicle manufacturers’ unswerving commitment to a decarbonised new car market, with more choice, better range and increased affordability than ever before.
“This has come at huge cost, however, with the billions invested in new models being supplemented by generous incentives which are unsustainable.
“We need rapid results from the regulatory review and urgent substantive support for consumers – else automotive investments will be at risk and the jobs, economic growth and net zero ambitions we all share in jeopardy.”
