EV gross sales soar to report excessive in November, taking 25% market share

The UK achieved a brand new milestone in electrical automobile (EV) adoption final month, with EVs accounting for over 25% of all automobile registrations in November, in keeping with New AutoMotive’s Electrical Automobile Depend.

This marks the very best market share for EVs since December 2022 and represents a 51% year-on-year progress.

For the fourth consecutive month, EVs have sustained a market share of over 20%, whereas petrol automobile registrations hit a report low of simply 29% – a pointy decline of greater than a 3rd for the reason that begin of the 12 months.

The sturdy EV gross sales have bolstered the automobile business’s zero-emission automobile (ZEV) mandate credit score surplus, successfully shielding producers from fines or authorities buyout funds for 2023.

Home automobile makers led the cost in November. Mini noticed EVs make up 37% of their whole gross sales, with guardian firm BMW Group promoting extra EVs than Tesla through the month. Different high performers included Jaguar (36%), Vauxhall (36%), Peugeot (29%), and MG (27%).

Even Volkswagen and Ford, historically lagging in EV gross sales, exceeded targets with 21% and 19% market shares, respectively.

Ben Nelmes, CEO of New AutoMotive mentioned: “Due to the investments and efforts made by carmakers, UK motorists now have extra electrical choices at extra aggressive costs than ever earlier than. 

“This spectacular progress is the results of the mixture of formidable and versatile EV targets, and important tax breaks for electrical automobiles. This mix of targets and incentives is placing the UK within the quick lane to higher power independence and cheaper, cleaner motoring. 

“November’s sturdy gross sales are accompanied by billions of funding in charging infrastructure and electrical automobile manufacturing. As world electrical automobile gross sales wax and wane, the UK’s automobile market is heading in a single course – and quick. Ministers should not pull the rug below this progress as they revisit UK coverage on EVs.”