SMMT figures show EVs hitting 22.6% market share: comment

Commenting on the SMMT’s new car sales figures for August 2024, which show EVs jumping to 22.6% market share [1], Colin Walker, Head of Transport at the Energy and Climate Intelligence Unit (ECIU), said: “Hitting 22.6% is quite the jump in market share. With sales getting steadily stronger throughout the year, the EV sector is in rude health. The efforts of those who seek to downplay this growth are ringing increasingly hollow.

“This success is being driven by the previous Government’s Zero Emissions Vehicle Mandate, which is incentivising manufacturers to lower their prices as they compete for sales to hit their EV sales targets. This war for motorists is enabling more families to make the shift to cleaner and cheaper electric driving. And the more new EVs that are sold today, the more used EVs will be available tomorrow – which will benefit the majority of us who buy our cars on the second-hand market.

“Some manufacturers, who’ve known for years that these targets were coming, have publicly complained about them. But these complaints would carry more weight if others - such as BMW, Mercedes and Hyundai – weren’t quietly going about their business and demonstrating that they can be met, and even exceeded. Ultimately the policy is helping more and more drivers access cheaper driving.

“But despite this success, misinformation about EVs continues to hold many people back from making the shift to EVs. An EV knowledge test recently commissioned by the ECIU found that more than half of petrol drivers got 2 or less out of 10. [2] And those getting such low scores are 11 times less likely to want their next car to be an EV, than those who scored 8 or more. Misinformation is having an impact, and the challenge for the new Government is to identify what role it can play to address it”.

ENDS

Notes to editors:

1. SMMT: August new car market holds steady ahead of critical plate change month: https://www.smmt.co.uk/2024/09...

2. Poll: Most petrol car drivers score just 2 out of 10 for EV knowledge: https://eciu.net/media/press-r...

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, Tel: +44 (0)7894 571 153, email: george.smeeton@eciu.net