EVs Take 27.4% Share of the UK – Spring Arrives in Summer

In July 2024, plug-in electric vehicles (EVs) captured 27.4% of the UK auto market, an increase from 24.1% the previous year. This growth includes battery electric vehicles (BEVs) at 18.5% and plug-in hybrids (PHEVs) at 8.9%. The overall auto market volume rose by 2.5% year-on-year to 147,517 units, although it remains below pre-2020 levels. BEV sales increased by 18.8% to 27,335 units, while PHEVs grew by 12.4% to 12,149 units. The market also saw a significant rise in hybrid electric vehicles (HEVs), which grew by 31.4% to 21,446 units, capturing 14.5% market share. BMW led the BEV market in July with a 10.3% share, followed by Tesla at 9.1% and Volkswagen at 7.5%. The Dacia Spring, a new affordable BEV, launched in the UK with initial registrations expected to increase in the coming months. Despite a slight dip in EV market share from June, the overall trend remains positive, contrasting with stagnation in other European markets. The UK’s economic conditions, including stable inflation and high interest rates, may influence future EV sales, but the absence of new import tariffs on Chinese-made BEVs could benefit the market.

- Plug-in EVs accounted for 27.4% of the UK auto market in July 2024.

- BEV sales increased by 18.8% year-on-year, while PHEV sales rose by 12.4%.

- BMW was the leading BEV brand in July, followed closely by Tesla and Volkswagen.

- The Dacia Spring launched as an affordable BEV, expected to boost sales in the UK.

- The UK market shows positive growth trends despite economic challenges and competition from other European countries.