New Automotive Sales Figures for October: Comment

"With petrol and diesel prices volatile, it’s no wonder EV sales are rising too, with market share up 25% compared to this time last year and almost one in three cars sold now fully electric. The second-hand market, where around 80% of cars are purchased, is thriving, with used EVs selling faster than any other fuel type – showing that a cross-section of British households are now making the leap to EV ownership (2). 

“All this interest comes just as the Government is considering significantly watering down its Zero-Emission Vehicle (ZEV) Mandate. The mandate incentivises manufacturers to increase access to electric vehicles, giving households more choice, while simultaneously cutting emissions in a sector which has struggled to decarbonise at the same pace as other parts of the economy. 

“The ZEV Mandate has been described as the single biggest policy for cutting our emissions (3), with even the mildest changes to targets currently under consideration having a cumulative emissions impact equivalent to burning all the gas in the Jackdaw field (4). Following the UK’s hottest ever summer, and as we face a year of intensifying climate impacts due to looming El Nino, world leaders including the Prime Minister will shortly be gathering at COP31. Against that backdrop, the upcoming decision on the ZEV Mandate represents real jeopardy for UK drivers and consumer choice, as well as the Government's credibility on climate – despite the message from UK sales suggesting that the mandate’s targets are both realistic and effective.”