EVs and PHEVs take 25.6% market share in February

SMMT figures show that new registrations of battery electric vehicles (BEVs) took a 17.7% market share in February to reach 10,417 units, while registrations of plug-in hybrids (PHEVs) rose to 4,677 units and a 7.9% share of the market.

When combined with hybrid (HEV) registrations (6,883), electrified vehicles accounted for more than a third of all new cars leaving dealerships.

Overall, UK new car registrations rose by 15.0% in February as 58,994 new cars joined Britain’s roads. The rise of 7,682 units was in comparison with the same month in 2021, when the pandemic shut car showrooms across the UK. Despite this positive performance, registrations are down -25.9% on pre-pandemic levels, as vehicle supply remains constrained by semiconductor shortages.

Compared with February 2021, when showrooms were closed and only ‘click and collect’ permitted, private registrations rose by 30.0%. Large fleet registrations remained stable, up just 2.0%, indicating that in a supply-constrained market, manufacturers are also prioritising private customers, which accounted for more than 80% of growth. While business purchases grew by 110.7%, this equates to a rise of just 693 units.

Mike Hawes, SMMT Chief Executive, said: “Despite February’s traditional low registration numbers, consumers are switching to EVs in ever-increasing numbers. More than ever, infrastructure investment needs to accelerate to match this growth. Government must use its upcoming Spring Statement to enable this transition, continuing support for home and workplace charging, boosting public chargepoint rollout to tackle charging anxiety and, given the massive increase in energy prices, reducing VAT on public charging points. This will energise both consumer and business confidence and accelerate our switch to zero emission mobility.”