Although electric’s market share fell slightly year on year, just over 1,500 more electric cars were sold in October this year compared to October of 2021. This trend was not just limited to EVs; both diesel and petrol cars also saw a drop in market share whilst at the same time experiencing an increase in actual sales volume, the company said.
Worryingly for the UK’s emissions targets, hybrid vehicles were the only fuel type to grow both in terms of market share and total sales volume, with over one in four new cars registered in October being a hybrid vehicle, it said.
“Despite rising energy costs, the continued high price of petrol and diesel means electric cars can be as much as 54% cheaper to run per mile, making them an attractive way for consumers to reduce the amount of money they spend on fuel,” said Ben Nelmes, Head of Policy and Research at New AutoMotive. “Amid a difficult economic outlook, it is vital that Ministers act to support sales of electric vehicles and restore investor confidence in the UK’s transition to electric cars and vans.”
Nelmes further said that the new Transport Secretary should publish plans for an ambitious California-style Zero Emissions Vehicle Mandate to ensure that the UK meets its net zero targets, support green businesses, and help bring forward the cost savings that this transition offers UK motorists.
New sales increased by 13% year on year, building on the 4% increase in September. However, 2022 has been a weak year for new car sales thus far, with the cost of living crisis and inflation reducing consumer confidence and contributing to poor sales figures.
New AutoMotive tracks regional registrations using a three-month rolling average, which masks big variations in EV market share from month to month. The DVLA regions with the highest share of EVs were Oxfordshire (39%), Anglia (24%), North East England (22%), London (21%), and Birmingham (20%).
Tesla did not make any deliveries in October. BMW accounted for 13.23% of all electric car registrations last month and topped the chart. Volkswagen recovered from a poor showing in September, claiming just over 10% of the EV market, to come second in this table. MG, in third place, saw a slight drop in market share from September, but was still responsible for a respectable 7.53% of all new electric car sales.