Record year for EV sales as December brings 56% jump
Registrations of new electric cars soared in December as EVs enjoyed a record year in 2024.
The latest figures show that electric cars accounted for 31% of all new registrations in December 2024, with 43,656 new EVs hitting the road. That represents a 56.8% increase on December 2023.
December’s data from the Society of Motor Manufacturers and Traders (SMMT) marks the fifth consecutive month of growth for electric cars while sales of petrol and diesel continued to contract. Petrol registrations were down 21% compared with December 2023, while diesel was down 27%.
The increase in the latter half of 2024 means EVs enjoyed a record full-year market share of 19.6% – up a fifth compared with 2023. Petrol remained the biggest selling powertrain, at 52% market share, but EVs caught up significantly – a trend the SMMT attributed to heavy discounting by manufacturers.
However, the SMMT highlighted that the full-year market share was still short of the 22% demanded under the ZEV mandate.
It called for more support for private buyers and a focus on extending the public charging network. The private retail market fell nearly 9% in 2024, with EVs accounting for just 10% of private consumer purchases. Fleets, encouraged by generous tax incentives on EVs, drove the growth.
Mike Hawes, SMMT chief executive, said: “A record year for EV registrations underscores vehicle manufacturers’ unswerving commitment to a decarbonised new car market, with more choice, better range and increased affordability than ever before.
“This has come at huge cost, however, with the billions invested in new models being supplemented by generous incentives which are unsustainable. We need rapid results from the regulatory review and urgent substantive support for consumers – else automotive investments will be at risk and the jobs, economic growth and net zero ambitions we all share in jeopardy.”
According to the SMMT, there are now 132 zero-emissions models on sale in the UK – up 38% since 2023 and accounting for a third of all models available.
Vicky Read, CEO of charging industry body ChargeUK, said the figures showed continued strong interest in all-electric vehicles.
She commented: “A fifth consecutive month and another year of growth for electric vehicles shows once again there is strong and growing demand and that the future is electric.
“It’s also been a year of growth for the EV charging sector, with over 73,000 public chargers currently in place and thousands more being installed every month ready to support these vehicles.
“To ensure our members can continue to invest in the chargers, it’s essential we have a strong and stable policy framework.
“We look forward to engaging in the government’s ongoing consultation and continue to urge policy makers to hold their nerve regarding ZEV mandate sales targets.”
The SMMT data shows that electric cars saw the largest growth in registrations over the year. EV registrations were up 21.4% year-on-year, putting it ahead of PHEVs (18%) and HEVs (9.6%), which both also grew, and petrol and diesel, which fell 4.4% and 13.6% respectively. Overall, the new car market grew 2.6% – its second successive year of growth.
