Electric vehicles take record monthly market share in July

Sales of electric vehicles have risen by a massive 158.1% in July, resulting in a 1.4% market share, the highest monthly market share on record, according to figures from the Society of Motor Manufacturers and Traders (SMMT).

Overall, the UK new car market declined again in July, falling by -4.1%, the fifth consecutive month of decline.

Declines were seen across all sectors, with private demand falling -2.0%, while deliveries for fleet and business customers were down -4.7% and -22.5% respectively. Luxury saloons and specialist sports cars experienced a rise in registrations in the month with volumes driven by increased demand for dual purpose vehicles, up 12.8% to take nearly a quarter (24.4%) of the market. All other segments experienced declines in the month, with the biggest falls seen in executive (-21.6%) and supermini (-12.1%) segments.

Registrations of diesel vehicles fell for the 28th month, down -22.1%, while petrols remained stable, with 2,646 more registrations than in July 2018. Hybrid electric cars increased by a substantial 34.2%, with 7,758 of these low-emission vehicles joining UK roads. Meanwhile, plug-in hybrid electric vehicles continued their recent decline, down -49.6%.

SMMT forecasts ongoing investment into new, ever more advanced powertrain technology will result in battery electric vehicles doubling their market share next year, with 51,000 registrations in 2020. However, this will still represent only 2.2% of the overall market.

Mike Hawes, SMMT Chief Executive, said, “Despite yet another month of decline in the new car market, it’s encouraging to see substantial growth in zero emission vehicles. Thanks to manufacturers’ investment in these new technologies over many years, these cars are coming to market in greater numbers than ever before. If the UK is to meet its environmental ambitions, however, government must create the right conditions to drive uptake, including long-term incentives and investment in infrastructure. The fastest way to address air quality concerns is through fleet renewal so buyers need to be given the confidence to invest in the new, cleaner vehicles that best suit their driving needs, regardless of how they are powered.”