EV market grows 30% despite cuts to grants

Electric vehicles registrations increased 30% in November 2018 compared with last year, despite changes in the Plug-in Car Grant - which came into force mid-October 2018 - reducing funding for pure-EVs by £1,000, and removing support for available PHEVs altogether.

Plug-in Hybrids remained the dominant type of electric vehicle in November, making up 71% of EV registrations, with more than 3,300 models sold last month - up almost 20% on last year.

Pure-electric models saw more than 1,400 units registered, 70% up on last year, and combined, there were more than 4,800 EVs registered during the month.

SMMT November 2018 EV registrations

Table courtesy of SMMT

The news comes as a boost to the UK's electric vehicle industry, which was concerned that the reductions in grant funding may have impacted upon sales, should they have come along too soon.

It seems as though the market is mature enough to deal with such cuts though, and it is now down to a lack of outright availability of those models available to buy in the UK that is restricting the market now.

More than 54,500 EVs have now been registered in 2018, with a month still to go of the year. December has traditionally been a strong month for EV registrations, so the total figure could be pushing 60,000 units come the end of December.

November shares the second highest market share currently seen in the UK, tied with October 2018 on 3.1%, and behind only August 2018's 4.2% in terms of EV registrations compared to total sales.

The average number of EVs sold in 2018 (for the first 11 months) now sits at almost 5,000 a month, a thousand units up from last year's monthly average for the full year. The average market share is now 2.5%, compared to 2017's 1.9% - another healthy increase.

Looking at the market on a rolling 12-month basis, just over 59,000 units have been sold, from December 2017 to the end of November 2018. That represents a similar monthly average to 2018's to date, and matches the average market share of 2.5%.

November 2018 EV registrations

Put into perspective, the EV market has grown 30% compared to the a fall in overall sales by 3%. Diesel continues to see significant drops in sales performance, down 17% compared to last year - which had already seen a sustained slump in registrations.

Diesel models now make up less than one in every three new cars sold in November 2018. That's compared to almost half of total registrations being diesel models just two years ago, and more than half three years ago.

Petrol models are taking up some of this slack, now accounting for 60% of new cars registered in November, with alternatively-fuelled vehicles (AFVs) - which include EVs, PHEVs, and hybrids - making up 7% of registrations. For 2018 to date, diesel registrations have declined 30%, petrol increased 9%, and AFVs have seen growth of 22%.

Find out more about electric cars

Chris Lilly

Author:Chris Lilly
Date Updated:5th Dec 2018

Related news