UK New Car Market: EV Growth Hits a Slower Pace – Manufacturing Management
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The UK’s new car market fell in November, marking the sixth decline of the year, as buyers awaited the government’s Budget, which includes new taxes on electric vehicles (EVs).
According to the Society of Motor Manufacturers and Traders (SMMT), new registrations dropped 1.6% to 151,154 units. The decline was largely driven by a 5.5% fall in private buyer demand, while fleet registrations edged up 0.2%, and business buyer volumes – a small segment of the market – rose 18%.
Battery electric vehicles (BEVs), supported by the Electric Car Grant, accounted for 26.4% of new registrations, slightly ahead of the 25.1% share recorded in November 2024. However, with volumes increasing by just 3.6%, this represented the weakest monthly growth for BEVs in nearly two years.
Hybrid electric vehicle (HEV) registrations rose 1.3% to make up 13.1% of the market. Plug-in hybrid growth was strongest, climbing 14.8% to account for 11.9% of new cars. Overall, electrified vehicles reached a record market share of 51.4% for the year, with petrol and diesel cars forming a minority for the third consecutive month.
Despite record BEV volumes – 426,209 registered in the first 11 months of the year – the year-to-date market share of 22.7% remains below the government’s 28% target for 2025.
SMMT chief executive Mike Hawes said: “Even in a fragile market, zero-emission vehicle uptake continues to rise, which is exactly what we need. But the weakest growth for almost two years -ahead of government announcing a new tax on EVs – should be seen as a wake-up call. Sustained demand for EVs cannot be taken for granted. We should be encouraging drivers to switch, not penalising them, else government and industry ambitions will be undermined.”
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Ian Vallely
Adam Offord
