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Image for One in four vehicle registrations is an EV

One in four vehicle registrations is an EV

According to figures from the SMMT, new registrations of EV’s are 22.9% of all vehicle registrations at the end of 2022 and the figure continues to rise. BEVs (Battery Electric Vehicles) account for 16.6% while PHEVs (Plug-In Hybrid Electric Vehicles) make up 6.3% of the total.  In March, registration of BEV and PHEV reached a record high 16.2% and 11.8% respectively, accounting for 28% of all vehicle registrations. 

in 2023, it’s anticipated that nearly half a million (488,000) EV’s will be added to British roads

The majority of major manufactures have succeeded in switching over to selling electric cars with brands such as Mercedes-Benz, Audi, BMW and Kia continuing to sell a growing percententage of EVs in proportion to their combustion engine vehicles.

Although the overall market share of EVs decreased slightly in February, sales of new Electric Vehicles increased by 16% year on year as both petrol and hybrid vehicles contributed to the rise in registrations. Tesla sold one of every five new electric vehicles registered in February 2023, followed by Audi, which had a market share of almost 10% and doubled its EV sales year on year from 456 in February 2022 to 1,063 in February 2023.

10,978 Electric Vehicles (EVs) were sold in February, up 16% from the same month last year, while 17,161 hybrids were sold. Even if the availability of EVs has improved, the UK’s high demand and limited supply have resulted in wait times of up to 18 months for new Electric Vehicles.

It will be essential to satisfy the rising demand for EVs in order to achieve the phase-out of internal combustion engine vehicles, with the Zero Emissions Vehicle (ZEV) mandate scheduled to come into force in 2024.

Despite February having a low number of sales, the UK’s new car market grew by 26.2% for the seventh consecutive month, according to the Society of Motor Manufacturers and Traders (SMMT). Hybrids sold 9,633 units in the UK in February, representing a 40% increase over the 6,883 recorded in February 2022 and the biggest rise of all vehicle classes. 12,310 battery Electric Vehicles (BEVs) were registered in February 2023, an 18.2% increase from February 2022, as their sales rise year on year. BEV sales have reached 29,607 so far this year, compared to 24,850 during the same time previous year.

 

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