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BEV market share reaches 31.0% in December 2024

Battery electric vehicles took 31.0% of UK new car registrations in December 2024, the highest monthly share since December 2022, but full year uptake fell short of the mandated target.

A newspaper on a kitchen table beside a model of statistics

Battery electric vehicles accounted for 31.0% of UK new car registrations in December 2024, with 43,656 units, the Society of Motor Manufacturers and Traders (SMMT) has reported. The figure is the highest monthly share since December 2022's record 32.9%1.

The overall new car market was flat in the final month of the year at 140,786 units, a marginal -0.2% decline on December 20231. Across the full year, 1,952,778 new cars reached the road, a rise of 2.6% on the previous year1.

December 2024 by fuel type:

Fuel typeDecember 2024December 2023% changeMarket share 2024
BEV43,65627,84156.8%31.0%
PHEV12,71612,1624.6%9.0%
HEV17,89916,21110.4%12.7%
Petrol59,45575,150-20.9%42.2%
Diesel7,0609,728-27.4%5.0%
Total140,786141,092-0.2%

Source: SMMT1

Over 2024 as a whole, BEVs made up 19.6% of the market at 381,970 units, up by more than a fifth (67,283 units) from last year, but short of the 22% demanded by the mandate1. Petrol remained the largest single powertrain category at 1,019,128 units, down -4.4%, while diesel fell -13.6% to 123,104 units. Plug-in hybrids rose 18.3% to 167,178 units and hybrids 9.6% to 261,398 units1.

Growth came entirely from fleets, which rose 11.8% to 1,163,855 units and accounted for a record 59.6% of registrations. Private buyer registrations fell -8.7% to 746,276 units, a level below 2020, when pandemic restrictions shut the market for three months. The business sector fell -3.1% to 42,647 units1. SMMT said only one in 10 private buyers chose an electric vehicle in 2024, with petrol commanding 61.0% of private demand1.

"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."
Mike Hawes, SMMT Chief Executive1

SMMT said manufacturer discounting totalled more than £4.5 billion in 2024, and that 132 zero emission models are now on the UK market, up 38% since 2023, with an average range of almost 280 miles1. Average new car CO2 fell -6.2% to 102.1g/km1.

Why it matters for households

The monthly share shows electric models are being registered in volume, but the split between buyer types shapes what is available to households. Fleet purchasing, supported by tax incentives for non-private buyers, drove the growth, while private registrations fell1. SMMT said around 64,000 more BEVs were registered by businesses and fleets than a year earlier, representing a quarter (25.4%) of those segments' registrations1.

For a household weighing a home chargepoint and a switch away from petrol or diesel, the figures indicate that the used market will be supplied in coming years largely by ex-fleet vehicles rather than private purchases. SMMT also linked private uptake to charging infrastructure, calling for a reliable, affordable and comprehensive nationwide network1. The market-data hub carries the registration series behind these figures.

What happens next

The 2025 mandate target is 28%, which SMMT said requires an EV market uplift of just under 50%1. SMMT said the extent to which lower average CO2 will assist manufacturers with mandate compliance will remain unclear until confirmed baseline CO2 figures are provided by government1. It called for the regulation to be amended to reflect a constrained market and for government to stimulate private demand and challenge chargepoint operators to accelerate rollout1. No date has been reported for the conclusion of the regulatory review.

Sources1 cited
  1. Record EV market share but weak private demand frustrates ambition - SMMT, smmt.co.uk