Notes from New AutoMotive
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Petrol's popularity dwindles as motorists embrace electric
Electric car registrations continued a run of very strong growth in June as consumers increasingly shun petrol and diesel in favour of hybrid and fully electric cars. Consumer demand continues to outstrip supply, with waiting times continuing to extend out to as much as 52 weeks for some electric models, due to the popularity of these vehicles.
EVs accelerate to 38% year-on-year growth as market rebounds from 2022
New electric car sales grew by 38% year-on-year in May, as the UK’s new car market continues to recover from a disappointing 2022. Electric car sales were responsible for around 18% of all new registrations (up 5 percentage points from May 2022), meaning just under one in five new cars sold in May was fully electric.
EV Uptake Surges 60% Year-on-Year
The sale of new electric cars rose by 60% year-on-year in April, as Britons continue to flock to make the switch to cheaper, greener electric transport. Around 16% of all new cars were electric. Across all fuel types, the new car market grew by roughly 10% overall, continuing the steady recovery that began in February, with this growth largely being driven by a 60% increase in new EV registrations.
EV demand remains strong as drivers await ZEV Mandate
In March, electric cars accounted for 16.21% of all new car registrations in the UK, as the exponential growth in EV uptake seen in recent years begins to stabilise. While demand for electric vehicles is still high, it is likely that slower rates of growth will continue until the ZEV Mandate is implemented in 2024, and supply is able to consistently match consumer demand.
The number of new EV sales grew by 16% year-on-year in February
The number of new electric car sales grew by 16% year-on-year in February, despite electric’s overall share of the market falling slightly. The overall number of new car registrations increased as the new car market showed the first marked signs of recovery since late last year. Unfortunately, it was not just new electric registrations driving this growth - new petrol sales, alongside new hybrid sales, were also up, helping to drive the uptick of the market.
EV market share grows by 6% - the fastest of any fuel type
The torrent of bad headlines about the UK’s electric car ambitions has not deterred consumers, according to New AutoMotive’s latest Electric Car Count data. Electric car registrations grew 6% in January, recording the fastest growth of any fuel type.
Highest ever EV market share -Year Review & December 2022
Once again, December was a very strong month for new electric car sales, recording their highest ever market share. One in three new cars were electric, making them the second most popular type of car sold in December. For the first time since at least 2010, petrol’s share of the market fell below 40% - a significant milestone in the decline of fossil fueled cars and the transition to electric.
Around 21% of new registrations were electric - is the market about to get a shakeup?
The new car market continued its recent resurgence in November, growing by 10% compared to the same month in 2021. Just under 21% of all new registrations were electric, an increase year-on-year, meaning one in five new registrations in November were for an electric car.
Electric car registrations were solid in October as the car market grew by 11%
New electric car registrations were solid in October, as the car market grew by 11% overall compared to the same month last year. Although electric’s market share fell slightly year on year, just over 1,500 more electric cars were sold in October 2022 than October 2021.
EV sales grew in September, as car market experienced a slight resurgence
New electric car sales were solid in September, increasing in market share by 2 percentage points compared to the same month last year. New electric registrations also increased in terms of actual sales volume, with 4,765 more EVs being sold in September 2022 than in September 2021.
BEV registrations are on the rise
“The race for EV market share is on. We’re seeing an increasing number of car manufacturers trying secure market share. This is good news for consumers: it means more choice of electric cars for those wishing to make the switch and access all the benefits of owning an EV.”
-Ben Nelmes, Head of Policy and Research at New AutoMotive