One new EV registered every 60 seconds in surging UK car market!
In July, the UK new car market surged by 28.3%, driven by increased demand for fleet cars and electric vehicles.
Electric car demand continued to rise, with battery electric vehicles (BEVs) accounting for 16.0% of new registrations. Electrified vehicles made up 35.4% of the market.
The Society of Motor Manufacturers and Traders (SMMT) called for robust action on charging infrastructure and a mandate for zero-emission vehicles (ZEVs) to meet environmental targets. British Gas emphasized the need to reduce VAT on public chargers.
Zapmap supported the SMMT's call and highlighted the growth in charging infrastructure. Novuna Vehicle Solutions warned of the impact of potential changes to EV targets, emphasizing the importance of maintaining confidence in the transition to electric vehicles (EVs). Lex Autolease stressed the need for ambitious ZEV mandate targets and continued support for charging infrastructure.
The market outlook for 2023 predicts total registrations of 1.847 million vehicles, with BEVs expected to hold a 17.8% market share. However, the 2024 outlook was slightly downgraded due to concerns about the cost of living, with BEVs projected to achieve a 22.6% market share.
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