SMMT new electric vehicle sales figures: comment

“Entering the second half of the year, EVs continue to strengthen their share of the market with nearly one in five new cars sold being electric. Year-on-year sales of EVs increased by 19% – further evidence that claims that EV sales are stalling are wide of the mark.

"It’s no coincidence that this sustained growth in EV sales in 2024 follows the last Government’s introduction of EV sales targets [2] at the beginning of the year. Manufacturers are competing for customers to hit their targets, offering generous discounts on their EVs in a war for motorists that ultimately benefits the UK’s drivers. As EVs get closer in price to their petrol equivalents, and more UK employers introduce salary sacrifice schemes that enable their employees to lease new EVs at heavily discounted rates, it’s clear that demand for cleaner and cheaper electric driving is very much there.

"July saw BMW knock Tesla off top spot for monthly EV sales, demonstrating that the more ‘traditional’ brands can and are successfully making the transition to building electric vehicles. This should give the new Labour government the confidence to ignore the calls of those who wish to see the mandate weakened. The ZEV mandate is doing its job, with more manufacturers stepping up to the plate with EVs offered at prices that more Brits can afford.”

Notes to editors:

[1] https://www.smmt.co.uk/2024/08/two-straight-years-of-growth-for-new-car-market/

[2] https://www.gov.uk/government/news/pathway-for-zero-emission-vehicle-transition-by-2035-becomes-law

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Tricia Curmi, ECIU, Tel: 07908 517 186, email: tricia.curmi@eciu.net