According to the latest SMMT figures, battery electric vehicle (BEV) registrations deliveries increased by 32.7% in October to secure 32.0% market share, while PHEV deliveries rose 30.1% to take a 15.0% market share. Hybrid (HEV) volumes declined for a second month, down -5.0%.  Together, electrified cars accounted for almost six in 10 (59.0%) registrations.

More than half a million (503,805) BEVs have been registered this year, up 30.4% on a year ago.

Despite the billions in incentives, including government’s Electric Car Grant, BEV share is expected to reach 27.2% this year against the 33% ZEV Mandate target, according to the latest market outlook. The gap is also set to widen next year with a 32% share expected against a 38% target. By 2028, BEV share is expected to reach 37.5% – 14.5 percentage points behind the required 52%, more than double this year’s shortfall.

The industry is therefore urging government to make substantive changes to the targets, revising them down so they better reflect demand, alongside full flexibilities throughout the regulation to bridge the remaining gap. 

Mike Hawes, SMMT Chief Executive, said: "Almost one in three new cars registered in October was electric – great progress in the transition, but one that comes at enormous cost. The industry and government are spending billions to help drivers switch, but that support cannot be sustained indefinitely with the gap to mandated targets set to more than double by 2028, just as a new EV-only tax is introduced. Higher targets may force supply, but they do not create demand. The ZEV Mandate review must deliver substantive reform effective immediately to ensure we have a healthy market and an attractive pitch to investors."