Demand for electric vehicles plunges by a fifth

demand for electric vehicles plunges by a fifth

Electric car

Electric car sales to private consumers have plunged by a fifth amid growing concerns that the industry will miss its legal net zero targets.

A total of 22,717 electric cars were registered in April, an increase of 10.7pc compared to a year earlier, but this was overwhelmingly driven by businesses.

Sales to private consumers made up just 15.6pc of this, down from 22.1pc in 2023, according to the Society of Motor Manufacturers and Traders (SMMT).

The actual number of electric cars sold to private consumers fell from 4,535 to 3,544, a drop of 22pc.

On Tuesday, the SMMT warned that electric vehicles (EVs) were now facing a “diminishing market share” with manufacturers set to significantly miss new sales targets put in force by the Government.

In April, overall EV market share among businesses and consumers rose from 15.4pc to 16.9pc on an annual basis.

The SMMT is forecasting that of two million cars set to be registered in 2024, just 19.8pc will be electric – down from a previous estimate of 21pc.

That means at least some car makers are on course to miss the target set by the Government’s zero emission vehicle (ZEV) mandate, which requires at least 22pc of sales to be electric from this year. Companies that miss the target are at risk of being fined. The SMMT does not break down its forecasts by manufacturer.

The ZEV mandate ratchets up further annually until it reaches 80pc in 2030, before a ban on the sale of new petrol cars in 2035.

In response to the latest figures, the SMMT reiterated calls for the Government to reinstate financial incentives for consumers buying electric cars – following the scrapping of the plug-in grant in 2022 – and said more needed to be done to ensure charging infrastructure was adequate.

It has previously demanded a cut in VAT on EV purchases that it claims would turbocharge demand.

The warning comes after figures from Auto Trader revealed that new EVs sold on the platform were being listed at record discount levels as dealerships struggled to shift them.

Manufacturers have previously warned that heavy discounting is not sustainable, however, with the boss of Vauxhall owner Stellantis claiming it could force the brand to cut the number of vehicles it sells in the UK.

Mike Hawes, the SMMT’s chief executive, said, “Although attractive deals on EVs are in place, manufacturers cannot fund the mass market transition single-handedly.

“Temporarily cutting VAT, treating EVs as fiscally mainstream not luxury vehicles, and taking steps to instil consumer confidence in the chargepoint network will drive the market growth on which Britain’s net zero ambition depends.”

At the same time, April’s figures showed growing sales of plug-ins and hybrids which rose by 22.1pc and 16.7pc respectively.

Plug-ins represented 7.8pc of the market, while hybrids accounted for 13.1pc.

Play The Telegraph’s brilliant range of Puzzles – and feel brighter every day. Train your brain and boost your mood with PlusWord, the Mini Crossword, the fearsome Killer Sudoku and even the classic Cryptic Crossword.

OTHER NEWS

15 minutes ago

Iran: Helicopter in presidential convoy in 'hard landing'

15 minutes ago

Heavy traffic at Woodlands checkpoint due to enhanced security checks

15 minutes ago

Can 'outstanding' Ortega deliver in season finale?

15 minutes ago

Iranian President's Helicopter 'Hard Landing': Everything We Know

15 minutes ago

Saran Bihar Lok Sabha election 2024: Date of voting, result, candidates, main parties, schedule

15 minutes ago

Jets 2024 Schedule: Five-Game Stretch to Determine New York's Playoff Future?

15 minutes ago

Russia finds vast oil and gaz reserves in British Antarctic territory

15 minutes ago

MotoGP Sets A New Attendance Record At Le Mans

15 minutes ago

Chris Hani would be MK Party member, says daughter

16 minutes ago

D.R. Horton, founder of nation's largest homebuilder, dies

16 minutes ago

Voter Guide: May 28 primary runoff

19 minutes ago

Belle Gibson: Brother breaks silence on 60 Minutes about the harrowing impact the notorious cancer faker's lies have had on his life- as he reveals another side to the conwoman

20 minutes ago

Crawley 2-0 Crewe Alexandra: Red Devils are PROMOTED to League One after play-off final win thanks to goals from Daniel Orsi and Liam Kelly

20 minutes ago

Feyenoord pay tribute to incoming Liverpool manager Arne Slot on final day of Dutch season... as fans unveil gigantic 'WALK ON' banner devoted to him

20 minutes ago

Erling Haaland to score a header NOW 5/1 - as Manchester City look to secure their fourth-straight Premier League title with a win over West Ham today

20 minutes ago

Liverpool fans greet the team bus with smoke flares as thousands line the streets to welcome Jurgen Klopp to Anfield ahead of his final game as manager

20 minutes ago

Meghan Markle will take plunging popularity in the UK with 'a pinch of salt', and will focus on success in her 'own country' instead, claims expert

20 minutes ago

Cate Blanchett dazzles in a gold sequined blouse at Cannes Film Festival as she leads the stars at a photocall for her movie Rumours

21 minutes ago

Helicopter carrying Iran’s president suffers a ‘crash,’ state TV says without further details

21 minutes ago

SNL finale teases Trump’s VP picks: a gun-toting Kristi Noem and the ‘late, great Hannibal Lecter’

21 minutes ago

New poll shows negligible change in party support but over half want more immigration controls

22 minutes ago

'Will revive HMT, link Panchkula with Chandigarh Metro'

22 minutes ago

Invincible's Omni-Man Without A Mustache Is Freaky As Hell

22 minutes ago

Paul McCartney song starts Paralympics on 100-day countdown to opening ceremony in Paris

22 minutes ago

Saracens and Scotland’s ‘outstanding competitor’ makes retirement call after illustrious career

22 minutes ago

The risky allure of WiFi Money: private jets, sports cars, and ruined investors

22 minutes ago

Schoolboy betters George North lift on Israel Folau in BRUTAL 20-metre tackle

22 minutes ago

Welby calls for end to ‘cruel’ two-child benefit cap in challenge to Labour

22 minutes ago

Canucks must 'want that big moment' heading into decisive Game 7: coach

25 minutes ago

Biden delivers Morehouse commencement address during a time of tumult on US college campuses

25 minutes ago

Near-record heat, severe weather threat emerging in Chicago's forecast

28 minutes ago

Hundreds gather to mourn Chicago high schooler Marko Niketic, 17, killed when Mustang rammed into his Mercedes

28 minutes ago

SNL skewers Trump over his hush money trial and praise for Hannibal Lecter - as Kristi Noem is roasted for killing her puppy

28 minutes ago

Bukayo Saka MISSES Arsenal's final game of the season through injury - as Gunners are dealt huge blow for crunch title showdown

28 minutes ago

Mascot race ends in hilarious fashion with ultimate fail seeing competitor suffer embarrassing loss

29 minutes ago

Bella Hadid displays her jaw-dropping figure in a skimpy pink bikini as she soaks up the sun at Hotel du Cap-Eden-Roc during Cannes Film Festival

30 minutes ago

Father 'relieved' as daughter's body returns to Israel

30 minutes ago

Ex-Man Utd star Carlos Tevez quits manager's job only six months after signing new deal

30 minutes ago

Saudi crown prince, US national security adviser meet on bilateral deal

31 minutes ago

Stoneman ton takes Middlesex ahead of Glamorgan

Kênh khám phá trải nghiệm của giới trẻ, thế giới du lịch