- The UK new car market fell by 6% in October, but BEV sales grew by 24.5%, reaching 20.7%.
- BEV growth benefits from increased model variety and discounts, but broader market decline suggests needed support measures.
- Industry leaders urge strong targets and investment in charging infrastructure to sustain EV growth and emissions goals.
The UK’s new car market saw a 6% dip in October, but EV sales grow ever stronger
The UK new car market took a 6.0% dip in October, with 9,241 fewer registrations, bringing the total to 144,288 vehicles sold. This marks the second market drop in 2024, according to data from the Society of Motor Manufacturers and Traders (SMMT).
All buyer types saw declines, with fleet sales down 1.7%, business sales down 12.8%, and private purchases decreasing 11.8%, continuing a two-year slide.
However, EVs are a bright spot in the market
Battery electric vehicles (BEVs) were the only category to see growth, jumping 24.5% and achieving a 20.7% share of all sales in October. This surge was fueled by a record number of BEV models available—over 125 in the UK—along with substantial manufacturer discounts. Roughly one in five BEV models now costs less than the average petrol or diesel car.
While BEVs now make up 18.1% of all sales in 2024, SMMT notes this is just short of the year’s 22% target.
SMMT Chief Executive, Mike Hawes, commented:
“Massive manufacturer investment in model choice and market support is helping make the UK the second largest EV market in Europe. That transition, however, must not perversely slow down the reduction of carbon emissions from road transport. Fleet renewal across the market remains the quickest way to decarbonise, so diminishing overall uptake is not good news for the economy, for investment or for the environment. EVs already work for many people and businesses, but to shift the entire market at the pace demanded requires significant intervention on incentives, infrastructure and regulation.”
He calls for continued support through incentives, infrastructure improvements, and regulatory clarity. The combination of these factors will help EVs become a mainstream choice.
Vicky Read, CEO of ChargeUK, said:
“At its core the EV transition needs two things – EVs to be sold and chargers to be deployed.
Today’s SMMT figures, the third month in a row of sustained and solid EV sales, shows the demand from drivers is there and the ZEV targets are doing their job. Those same targets are the bedrock for £6bn of private investment in charging infrastructure, which is also being rolled at record rate, month after month, ready for all those new EVs.
No-one ever said the ZEV mandate was going to be easy, but it’s working; weaken the targets now and willingness to invest in charging will dissipate and the EV transition will grind to a halt.”
As the EV sector holds the new car market steady for another month, it seems more clear than ever that the appetite is there. Now we just need to invest to make the EV dream a reality.
