Got net-zero news, project updates, or product launches to share? Top 10 fleet registrations led by alternative fuel vehicles, says Cap HPI.
In the latest Insight report from Cap HPI, it has been revealed that electric vehicles (EVs) and hybrids are dominating the top 10 registered cars by fleets. The study of fleet registrations highlights the increasing popularity of alternative fuel vehicles, with the Tesla Model Y leading the pack as the top registering range for May. Alongside other battery electric vehicles (BEVs) and plug-in hybrids, the data showcases a shift towards cleaner and more sustainable transportation options.
While the Audi A3 maintains its position as the top registering range for the year-to-date tally in 2024, the Tesla Model Y, last year’s standout performer, is closing in on the gap. Andrew Turner, senior product specialist at Cap HPI Consulting, notes that the top 10 for 2024 is largely dominated by alternative fuel vehicles, especially BEVs and PHEVs. This shift can be attributed to the attractive Benefit-in-Kind (BiK) benefits these vehicles offer, prompting many fleet drivers to make the switch.
Turner further explains, “The increasing popularity of PHEVs shows no signs of slowing down, especially with the introduction of high-electric range PHEVs that qualify for just 5% BiK tax. This not only lowers the tax burden for company car drivers but also presents a compelling alternative that combines the advantages of BEVs with none of the perceived drawbacks.”
Despite the growth in electric vehicles, the 2024 year-to-date Insight fleet share for BEVs has climbed to nearly 40%, although it remains slightly lower compared to the same period in 2023. On the other hand, the PHEV share has seen a significant increase of about 10% compared to last year.
Cap HPI’s Insight report offers vital market data on fleet registrations from leading fleet operators, providing invaluable insights into emerging trends. This data enables teams to stay informed with accurate, up-to-date information, allowing them to monitor the industry landscape effectively.
Top 10 Registered Cars by Fleets – May 2024
- Tesla Model Y
- Audi Q4
- Volkswagen Golf
- Audi A3
- CUPRA Formentor
- Mercedes EQA
- BMW i4
- Kia Niro
- Tesla Model 3
- MG Motor UK MG4
Top 10 Registered Cars by Fleets – Jan-May 2024 (YTD)
- Audi A3
- Tesla Model Y
- Volkswagen Golf
- BMW i4
- MG Motor UK MG4
- Audi Q4
- Volvo XC40
- Kia Niro
- Cupra Formentor
- Tesla Model 3
