Britain’s one millionth electric vehicle has hit the road as experts predict the UK could see the number of EVs double in just two years.
New data from the Society of Motor Manufacturers and Traders (SMMT) found that the new car market grew by 8.2 per cent in January.
The first month of 2024 saw 142,876 new cars registered, almost 11,000 vehicles more than the same time last year, as well as being the 18th consecutive month of growth.
The fleet market drove the bulk of the sales, rising by nearly 30 per cent, while private retail uptake fell a staggering 15.8 per cent.
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Experts are calling on the Government to introduce a number of measures to slash the prices of EVs
PA
Almost 21,000 new battery electric vehicles were registered in January, a 21 per cent rise year-on-year, taking the overall total since 2002 to 1,001,677.
There are hopes that the growing pace of new electric vehicles could continue in the coming years as drivers see cheaper upfront costs, a more developed charging network and extra incentives to switch.
Mike Hawes, chief executive of the SMMT, said: “It’s taken just over 20 years to reach our million EV milestone – but with the right policies, we can double down on that success in just another two.
“Market growth is currently dependent on businesses and fleets. Government must therefore use the upcoming Budget to support private EV buyers, temporarily halving VAT to cut carbon, drive economic growth and help everyone make the switch.
“Manufacturers have been asked to supply the vehicles, we now ask Government to help consumers buy the vehicles on which net zero depends.”
Manufacturers and motoring organisations are pushing ahead with the development of electric cars, despite the Prime Minister delaying the ban on the sale of new petrol and diesel vehicles from 2030 to 2035.
It has been suggested that the Government temporarily halves the rate of VAT on new EV purchases as this would increase uptake from drivers and only cost the Treasury ÂŁ1,125 per car.
Experts have highlighted that this would cost less than the previous Plug-in Car Grant and help put more than a quarter of a million electric cars on the road by the end of 2026, in addition to those already expected.
RAC head of policy Simon Williams echoed the SMMT’s calls for Government action, targeting the Spring Statement as the perfect opportunity to introduce measures to support the uptake of electric cars.
He said: “The Government must also play its part by stimulating demand at scale and making zero-emission driving more affordable.
“We urge the Chancellor, in March’s budget, to reintroduce a form of the plug-in car grant aimed at the cheaper end of the EV market and cut VAT on public chargers to match the five per cent rate levied on domestic electricity.
“This would make charging significantly more affordable for those who can’t charge at home or those who regularly have to recharge on long journeys.”
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There are hopes that the UK will see double the number of EVs on the road by 2026
PA
The SMMT estimates that 1.974 million units could be seen across the new car market in the coming 11 months, although the market share prediction for EVs has been cut to 21 per cent, down from 23.3 per cent expected a year ago.
The UK also saw the 60,000th electric van added to British road, with uptake of the cleaner vehicles weighing more than 3.5 tonnes jumping 19.4 per cent.