BEVs Make Gains in U.K. Sales While Market Slides 6% in October

U.K. new-car sales fall for the second time this year with a 6% drop in registrations for October to 144,288, says the Society of Motor Manufacturers and Traders (SMMT) trade group.

That’s 9,241 units fewer than for the same month last year across all buyer types with commercial fleet sales falling 1.7% and the low-volume business market declining 12.8%. Private car purchases continues their 2-year-long slide, down 11.8% meaning that 38.8% of new cars registered in the first 10 months have gone directly to private buyers.

The main decline was among gasoline and diesel vehicle sales, down 14.2% and 20.5% respectively, yet gas-hybrid and plug-in hybrid electric vehicles also fell, dropping 1.6% and 3.2%.

However, amid a torrid year for battery-electric-vehicle sales, only these powertrains saw growth, up 24.5% to reach a 20.7% share of the market, thanks to a raft of new BEV models going on sale.

While almost 300,000 new BEVs have reached U.K. roads in 2024, this still represents just 18.1% of the market, well short of the 22% target for this year and of the 28% which must be achieved in 2025 under the Vehicle Emissions Trading Scheme that would spark fines for automakers failing to meet targets.

The SMMT is concerned that automakers need help to meet these targets with government support for consumers to buy BEVs with financial incentives.

Mike Hawes, SMMT chief executive, says: “Fleet renewal across the market remains the quickest way to decarbonize, so diminishing overall uptake is not good news for the economy, for investment or for the environment.

“EVs already work for many people and businesses but to shift the entire market at the pace demanded requires significant intervention on incentives, infrastructure and regulation.”

David Borland, the EY consultancy's U.K. and Ireland automotive leader, agrees, adding: “Expensive upfront purchase costs, a lack of charging infrastructure and expensive battery replacement are all prominent concerns deterring people from making an electric-vehicle purchase according to EY’s latest U.K. Mobility Consumer Index. Uncertainty around financing options and residual values of EVs is also likely to prove a stumbling block to the pace of uptake.”