EV sales soar towards first ZEV mandate goal

New statistics from New Automotive reveal that battery electric vehicles (BEVs) are off to a strong start in 2024. In the first five months of the year, BEV sales saw a 10% increase compared to the same period last year, reaching a market share of 17.9% in new car sales. This growth comes as total car sales rose by just under 2.2% in May 2024 compared to May 2023, while traditional petrol and diesel sales decreased significantly from 55% to 45% market share within a year.

Car manufacturers’ efforts to promote and incentivize the purchase of electric vehicles are paying off. Companies like Nissan, Vauxhall, and Peugeot have seen impressive BEV market shares of 18%, 20%, and 21%, respectively. The industry as a whole only needs to sell an additional 1,800 EVs per month between June and December to meet the Zero Emission Vehicle (ZEV) mandate target and avoid penalties from the government.

On the electric vehicle front, BMW is poised to surpass Tesla as the EV market leader. However, electric van sales have remained stagnant, as most companies seem focused on meeting car targets. Ford continues to be the main contributor to the shortfall, while other manufacturers are either close to or have exceeded their targets.

Ben Nelmes, Chief Executive at New AutoMotive, commented on the positive trends, stating: “It is great to see tens of thousands more drivers discovering the benefits of going electric. Electric cars are not only good for the planet, they’re good for your wallet, and they contribute to improving the nation’s energy security. This month’s data highlights the shift away from petrol cars as consumers embrace electric options.”

The Zero Emission Vehicle Mandate (ZEV) officially became law at the beginning of this year, requiring all new cars and vans to be zero-emission by 2035. The mandate, which was passed into law by the House of Commons, mandates that 80% of new cars and 70% of new vans sold in Great Britain be zero-emission by 2030, with the goal of reaching 100% by 2035.

In 2024, each qualifying brand must ensure that 22% of all new car sales in the UK are zero-emission, with this percentage set to increase progressively in the years to come.

With the upcoming general election, the data showcases a significant shift towards electric vehicles in the automotive industry. Regardless of the outcome, the incoming government should commit to maintaining the UK’s leadership in promoting cleaner and more affordable transportation options.

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