Registrations of new battery electric vehicles (BEVs) in the UK grew by 41.6% year-on-year in January, reaching a market share of 23.7%, data from the Society of Motor Manufacturers and Traders (SMMT) showed on Wednesday.
However, the figure remains below the government’s 28% mandate for 2024, raising concerns over the pace of EV adoption.
“Affordability remains a major barrier to uptake, hence the need for compelling measures to boost demand, and not just from manufacturers,” said SMMT Chief Executive Mike Hawes.
See also: UK Government Explores Loan Subsidies to Boost Private Electric Vehicle Sales
The industry has called for a halt to EV-related taxes to encourage wider adoption, as the gap between EV demand and regulatory targets is expected to widen further. Market forecasts indicate that BEVs will account for 28.3% of sales in 2026—below the mandated 33% target.
The overall UK car market saw a decline for the fourth consecutive month, with total new car registrations falling 2.5% year-on-year to 139,345 units in January.
See also: UK Electric Vehicle Production Drops 20% in 2024 Amid Industry Transition
Slowing demand from both fleet and private buyers, amid a weak economic environment, contributed to the drop.
The latest data underscores the challenges facing the UK’s EV transition, with policymakers and automakers under pressure to bridge the gap between market reality and regulatory targets.
