ILC ARTICLE

EV charge drives soaring sales

5th September 2023

A huge surge in EV sales contributed to a 24% increase in new car registrations in August.

According to the Society of Motor Manufacturers and Trader, 85,657 new vehicles were sold in the month. This represents an increase of 16,799 units but is still 7.5% below pre-pandemic levels.

Growth was driven by rising demand for electric vehicles, which accounting for 37.8% of all sales. Battery electric vehicle uptake swelled by 72.3% to secure a 20.1% market share, an August record and the highest recorded since last December. Plug-in hybrid uptake rose by 70% to account for 7.7% of new registrations, while hybrid volumes were up 6.8% to comprise 10% of the market.

Mike Hawes, SMMT Chief Executive, said, “With the automotive industry beginning a second year of growth, recovery is underway with EVs energising the market. But with a new Zero Emission Vehicle Mandate due to come into force in less than 120 days, manufacturers still await the details. Businesses cannot plan on the basis of consultations, they need certainty. And now, more than ever, government must match action to ambition, ensuring there are the incentives and infrastructure in place to convince drivers to make the switch.”