In November 2024, electric vehicles (EVs) accounted for over 25% of all new car registrations in the UK, setting a new sales record according to data from New AutoMotive.

Major automakers like Volkswagen and Ford exceeded their EV sales targets, achieving market shares of 21% and 19%, respectively.

During the first eleven months of 2024, UK electric vehicle sales reached 338,000, marking an 18% increase compared to the same period in 2023, although this still represented less than 19% of the total market share.

Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders (SMMT), emphasized the unprecedented investment in zero-emission vehicles by manufacturers but cautioned that such incentives may not be sustainable.

The UK government plans to engage with carmakers about EV sales targets, affirming that these targets will remain firm while allowing for some flexibility.

The strong sales performance has resulted in a doubling of the surplus of zero-emission vehicle (ZEV) credits, indicating that manufacturers are unlikely to face fines this year.

Ben Nelmes, CEO of New AutoMotive, attributed the growth in EV sales to ambitious targets and significant tax incentives, which have encouraged manufacturers to offer more competitive pricing.

Ginny Buckley, Founder of Electrifying.com, noted that while the introduction of affordable EV models has boosted uptake, there is a pressing need for government incentives to stimulate demand for used EVs.

Forecasts predict a significant decline in petrol cars in the UK, dropping from 18.7 million to 11.1 million by 2034, while the number of EVs is expected to rise dramatically from 1.25 million to 13.7 million.

Despite the record sales figures, concerns have been raised regarding the sustainability of the heavy discounts that have driven these numbers, prompting calls for a review of market regulations.

The UK government is committed to expanding public charging infrastructure, which is crucial for supporting the increasing number of electric vehicles on the road.