SMMT new registrations: New car market down but EVs deliveries jump

The latest SMMT new registrations data saw battery electric vehicle units jump 58.4% to 38,581 units, representing 25.1% overall market share for November. Overall, the new car market declined 1.9% at 153,610 units. 

Sheena McGuinness, head of renewables and cleantech at RSM UK reacts to the latest SMMT new registration data: “Discounting drove another boost in EV sales in November as lower prices offered a compelling incentive for consumers to invest in a new electric vehicle. The jump to almost 40,000 units, represents a quarter of the market share for the month. 

However, the overall total in 2024 sits at 18.7% - falling short of the 22% annual mandated target, despite what looks to be a strong finish to the year. 

“News that the government is looking to run a ‘fast-track’ consultation on the zero emissions vehicle mandate will be welcome news to the automotive industry who have struggled to balance the cost of innovation against weak demand – challenging commercial viability and jobs. 

“What is needed from government is better infrastructure to reduce range anxiety so consumers can feel confident to make the move to pure electric cars rather than bridging the gap with hybrids which still contribute to air pollution. Plus, incentivise consumers to make the choice. Reversing the removal of some benefits previously enjoyed by EV drivers, such as cheaper road tax and congestion charge exemptions for electric vans, would be a good start; but further steps will be needed. 

“Levelling up the VAT treatment on charging could be a key driver – bringing the VAT rate of 20% on public charging points down to the 5% VAT domestic charging rate to remove some of the extra cost.

“In addition, the government needs to confirm what will replace the dwindling revenues from fuel duty to ensure the market and consumers can make informed investment decisions. Future tax, government policy and infrastructure need to be in place to truly accelerate the UK’s transition away from petrol and diesel motoring.”