A battery a minute: New car registrations surge as EVs eat into market share
One new battery electric vehicle was registered every 60 seconds in July, as the UK’s new car market recorded a full year of growth.
Registrations of new cars were up more than a quarter (28.3%) in July compared with the same month last year, according to figures from the Society of Motor Manufacturers and Traders (SMMT).
That represented the 12th consecutive monthly year-on-year increase, as global supply shortages continue to ease.
In total, 143,921 new vehicles were registered in July.
New battery electric vehicles (BEVs) took a 16% market share in July.
The SMMT anticipates the figure will rise to nearly 23% across the whole of next year.
Electrified vehicles, including hybrids, plug-in hybrids and battery electric vehicles, accounted for 35.4% of the market in total.
This was the best July performance for new car sales since 2020, when demand for new cars spiked after three months of lockdown during the pandemic.
Despite this year’s continuous growth, the overall market remains below pre-pandemic levels, the SMMT said.
Earlier this week, Prime Minister Rishi Sunak said the ban on the sale of new petrol and diesel cars from 2030 remains Government policy.
He has been under mounting pressure after more than 40 Conservative MPs and peers wrote to him calling for the deadline to be pushed back, saying the ban will cause “grave harm” to the economy and leave drivers “worse off”.
Mike Hawes, SMMT chief executive, said: “The industry remains committed to meeting the UK’s zero emission deadlines and continues to make the investments to get us there.
“Choice and innovation in the market are growing, so it’s encouraging to see more people switching on to the benefits of driving electric.
“With inflation, rising costs of living and a zero emission vehicle mandate that will dictate the market coming next year, however, consumers must be given every possible incentive to buy.
“Government must pull every lever, therefore, to make buying, running and, especially, charging an EV, affordable and practical for every driver in every part of the country.”
Neil Lancefield – PA