The market share of electric vehicle (EV) sales in the UK has reached over 20% for the third month running - according to New AutoMotive’s latest Electric Car Count.
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In October, sales of new EVs reached 20.8% of the market, making them the fastest growing fuel type throughout the month. The figure means that the industry is now comfortably above the legal requirements demanded by the UK’s Zero Emission Vehicles (ZEV) mandate. This is because many manufacturers have significantly lowered their targets by outperforming easy-to-meet CO2 emissions targets on their petrol and hybrid sales.
Meanwhile, petrol and diesel sales accounted for less than 40% of overall market share for a second consecutive month. The UK’s petrol market is declining rapidly, falling 14% this year compared with the first 10 months of 2023. However, rumours of carmakers holding back sales can be dispelled given the overall car market is up 3.5% in the same period.
When it comes to individual manufacturers, the top six for EV sales last month were all European brands. The EV sales from Volskwagen, Mercedes Benz, BMW, Peugeot, Audi and Skoda all were between 18% and 30% of their total sales volume.
Despite previously struggling to meet EV sales targets, Renault and Ford both outsold Tesla in October. Honda also performed well, with 32% of the brand’s total sales being electric.
Ben Nelmes, CEO of New AutoMotive, said: “Electric car sales are going from strength to strength in the UK. This is the result of the efforts and investment made by forward-thinking carmakers, who are delivering cheaper, cleaner transport for all.
“The ambitious action is being supported by the UK’s world-leading Zero Emissions Vehicle mandate, which is a market–based approach that provides big rewards for companies that sell the most electric cars. This regulation is now the foundation on which billions of investment in battery manufacturing and charge points are built.
“Whilst electric car sales go up and down around the world, the UK’s combination of tax breaks for company cars and ambitious regulation shows that it is possible to deliver rapid results for motorists and the environment.”