Sales of EVs reached 23% of new vehicle market share in August

Sales of electric vehicles (EVs) reached 23% of new vehicle market share in August, meaning manufacturers exceeded this month’s zero emission vehicle (ZEV) target – according to New AutoMotive’s latest Electric Car Count. 

August’s sales were so strong that no additional growth is needed in the share of BEV sales in the remaining months of 2024 for the market to meet ZEV mandate targets. This is due to flexibilities in the scheme. 

Countering the gloomy narrative of flatlining sales and impossible targets, EV sales are up 10% compared to August last year, taking a higher market share than at any point since December 2022. It also bucks European trends and shows the strength of the UK market.

Hybrid vehicles also surged to a 35% market share in July, meaning petrol, which fell to 36%, is on track to be knocked off the top spot.

Growth in EV sales is coming from a broad range of brands, notably led by BMW, Mercedes and the Stellantis-owned brands. Almost a third of BMWs sold in the last 12 months are battery electric, and a quarter of new Mercedes cars have no tailpipe. 

Many Chinese brands however recorded a significant fall in sales, defying expectations of a flood of vehicles from China following the introduction of EU tariffs. Tesla has lost market share each month in the last year.

Ben Nelmes, CEO of New AutoMotive, said: “It is great to see continued growth in the number of people opting for an electric car. Electric cars are much cheaper to run, nicer to drive and they are key to hitting net zero, so it is great to see more and more people discovering the benefits of going electric. 

“The data also show a significant fall in sales of purely petrol and diesel cars as consumers shun older, polluting technologies. The government can have confidence in following through on its manifesto commitment to reintroduce the 2030 ban on sales of petrol and diesel cars.

“Ministers should also be reassured that the predicted flood of Chinese electric cars is still barely a trickle, and the strong sales data is largely the result of action by European manufacturers.”