Statistics from New Automotive have revealed that the UK is the fourth-biggest market for electric vehicles (EVs) in the world.
Globally, 1.04 million EVs were sold worldwide in October 2024, a 12% increase from October 2023, with 10.8 million EVs sold worldwide in the 12 months to October 2024, an increase of 11% from the previous 12-month period. The combined global market share of battery electric vehicles (BEVs) and plug in hybrid cards was 22.9%, up from 19.9% in the preceding 12 months.
Despite being a relatively small nation, the UK is one of the strongest markets for EV sales, ranking fourth globally in both October 2024 sales and sales for the 12 months up to October 2024. In October 2024, 27,957 new EVs were sold in the UK, with 333,947 new EVs being sold in the year up to October 2024. The UK saw a 23% increase in the number of sales made in October 2024, with 5,000 more sales made than the previous month.
The UK is one of 12 markets in the European Economic Area (EEA) that regularly sees an EV market share above 20%, alongside Portugal, Switzerland, Malta, and several other nations. In October 2024, the UK continued a successful run of EV market strength, marking the third month in a row when sales of fully electric cars took a market share above 20%.
Volkswagen leads the pack in EV manufacturer popularity in the UK at present, with Volkswagen vehicles making up 9.4% of UK EV registrations in October 2024, up from 6.1% in October 2023. Tesla and BMW have seen their market dominance challenged in recent months, with BMW’s market share slipping from 12% in October 2023 to 7.4% in October 2024, while Tesla’s market share plummeted from 11.5% in October 2023 to just 3.4% in October 2024. Volkswagen is also currently a European leader in EV sales, coming top in European sales in October 2024 and second in year to October 2024 sales.
Recent data from the Society of Motor Manufacturers and Traders (SMMT) has shown that the UK’s EV market is significantly stronger than the market for internal combustion engine (ICE) vehicles. The latest statistics from the automotive trade body revealed that BEVs were the only type of car seeing a rise in uptake. October saw registrations of BEVs grow by 24.5% year-on-year, reaching a 20.7% market share, while petrol and diesel vehicles declined by 14.2% and 20.5%.
In an effort to encourage uptake of EVs in the UK, the government is working to raise standards for publicly available chargepoints. The UK government’s Public Charge Point Regulations 2023 came into effect on Monday (24 November), which require chargepoint operators (CPOs) to ensure that their chargepoints are available and functional 99% of the time.
