Home Business NewsBusinessAutomotive News New electric car market share dipped in September

New electric car market share dipped in September

by LLB staff reporter
5th Oct 23 11:40 am

The Society of Motor Manufacturers and Traders (SMMT) has said that there is a dip in new electric cars registered in September.

There was only 16.6% of registrations last month of pure electric cars compared to 16.9% in the same month of last September.

Around 22% of new cars sold next year by manufacturers must be net zero emissions under the new zero-emissions vehicles (ZEV) mandate set by the government.

There was a 14.3% decrease in new cars last month of battery electric new cars  by private buyers, however purchases for fleets soared by 50.6%.

SMMT chief executive Mike Hawes said: “A bumper September means the new car market remains strong despite economic challenges.

“However, with tougher EV targets for manufacturers coming into force next year, we need to accelerate the transition, encouraging all motorists to make the switch.

“This means adding carrots to the stick – creating private purchase incentives aligned with business benefits, equalising on-street charging VAT with off-street domestic rates, and mandating charge point rollout in line with how electric vehicle sales are now to be dictated.

“The forthcoming Autumn Statement is the perfect opportunity to create the conditions that will deliver the zero-emission mobility essential to our shared net-zero ambition.”

Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: “The big question is how some players in the industry reach 22% by the end of next year under the new ZEV sales mandate.

“Many face a difficult choice between selling fewer petrol and diesel vehicles, paying hefty fines or buying credits from all-electric new market entrants such as BYD, Tesla and Polestar.

“To square that circle, we could see prices come down to encourage consumer demand further.”

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