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Although BEV vehicle registrations grew in every category, it will be a challenge to meet the UK’s ambitious Zero Emission Vehicle Mandate without changes.
New BEV registration volumes rose by 3.3% to 22,155 units, not far off the average growth for the industry.
Larger electric rigids (3.5-4.25t) had the greatest percentage change, up 36.8% year on year. However, at 1,646 units, this only represents 0.4% of the market.
Diesel LCVs have the lion’s share of the market at 91.2%, dwarfing all other categories in terms of vehicles on the road.
Battery electric vehicles, in comparison, hold 6.3% of the market share, a figure that has held the same year on year. This significantly falls short of the 10% target set for 2024.
|
|
YTD 2024 |
YTD 2023 |
% Change |
Market share 24 |
Market share 23 |
|
BEV <3.5t |
20,509 |
20,253 |
1.3% |
5.8% |
5.9% |
|
BEV Rigids 3.5 – 4.25t |
1,646 |
1,203 |
36.8% |
0.5% |
0.4% |
|
Diesel |
320,559 |
312,669 |
2.5% |
90.7% |
91.2% |
|
Others <3.5t |
10,766 |
8,533 |
26.2% |
3.0% |
2.5% |
This is bad news for the UK’s electric vehicle goals – despite industry efforts, customers still overwhelmingly rely on ICE vehicles. It will be a huge challenge to meet our ambitious Zero Emission Vehicle Mandate even with the date extended to 2035. It is thought that demand is likely to rise in 2025, with the industry expecting a rise of more than 85%. Although that sounds hopeful, it would still only result in a market share of 10.6% - still below the 16% required of the year.
|
Zero Emission Vehicle Mandate: 80% of new cars and 70% of new vans sold in Great Britain will now be zero emission by 2030, increasing to 100% by 2035. |
Thanks to vast manufacturer investment means there are currently 33 different zero emission van models on the market, making up more than half (52.4%) of all new models available. Manufacturers have embraced the ZEV trend, and offer a model for every possible business need. Lack of variety is unlikely to be a barrier to business uptake.
Far more likely is the scarcity of public charge points specialising in commercial vehicles, particularly larger rigids. The public and businesses are both lacking in confidence in the commercial benefits of converting to electric.
SMMT Chief Executive Mike Hawes says:
“Buyer confidence, however, will inevitably be undermined when charging infrastructure does not meet the needs of fleet operations. A review of EV regulation is crucial, therefore, to reflect current market realities and ensure ambitions are deliverable, without any negative and costly consequences.”
