Summary

  • Plugin EVs accounted for 29.4% of the UK auto market in September, with BEVs at 20.5% and PHEVs at 8.9%
  • Tesla was the leading BEV brand in September, with the Model Y being the best selling model
  • Significant debuts in volume included the Polestar 3, Polestar 4, Porsche Macan, and the MG Cyberster Roadster
  • Tesla leads the UK BEV market share, followed by BMW and Mercedes
  • Ford is making decent BEV sales progress, while Toyota lags behind in BEV sales

Article

In September, plugin electric vehicles (EVs) accounted for 29.4% of the UK auto market, with battery electric vehicles (BEVs) making up 20.5% and plugin hybrids (PHEVs) comprising 8.9%. Both BEVs and PHEVs saw significant growth in volume compared to the previous year, with BEVs increasing by 24% and PHEVs by 32%. Overall auto volume in the UK was 275,239 units, up 1% compared to the previous year but still below pre-2020 levels.

Tesla was the leading BEV brand in the UK in September, with the Model Y being the best-selling BEV model with 5,799 units registered. Volkswagen surprisingly took second place in the September BEV rankings, while BMW slipped back to the 12th spot. The UK saw the launch of several new BEV models, including the Polestar 3 and Polestar 4, the Porsche Macan, the MG Cyberster Roadster, the Peugeot e-5008, and the Ford Explorer, all contributing to the growth of the EV market.

Tesla continued to dominate the UK BEV market in the trailing 3-month brand rankings, with Volkswagen seeing an improvement in market share compared to the previous quarter. Ford also saw an increase in BEV sales, particularly due to the success of its new Explorer model. However, Toyota lagged behind other major automakers in BEV sales, with only 6% of its overall sales in September being BEVs. Other brands with above-average BEV weightings included Mercedes-Benz, BMW, Vauxhall, Volvo, MG Motor, and Peugeot.

With the UK’s 2024 Zero Emission Vehicle (ZEV) mandate requiring brands to have BEV weightings of 22%, some automakers may need to offer discounts or incentives to meet the target. The overall UK auto market is facing challenges such as weak GDP growth, high inflation, and interest rates. With the BEV share year-to-date at 17.8%, brands will need to ramp up their EV offerings to meet the ZEV mandate. Consumers in the UK may have the opportunity to take advantage of special offers and leasing deals on BEVs from brands looking to improve their BEV sales.

As the UK transitions towards a greener auto market, the prospects for the EV industry in the coming years look promising. Brands that are currently below the ZEV mandate target may offer incentives to boost their BEV sales, providing opportunities for consumers to switch to electric vehicles. It will be interesting to see how automakers adapt to the changing landscape and whether they will embrace alternative energy sources to meet the growing demand for sustainable transportation options.

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