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Sales of electric cars continue to rise in the UK, surpassing a quarter of all new car purchases in November, according to the Society of Motor Manufacturers and Traders (SMMT). The figures mark the 11th straight month of sales growth for electric cars, as manufacturers race to meet tough targets. However, the driving force behind the increase was steep discounting, with car makers offering around £4 billion ($5.4 billion) in incentives for customers to buy electric vehicles,
While many car firms are expected to miss the government’s electric vehicle (EV) sales targets this year and could face fines, flexibilities in the rules mean this is unlikely. Companies are required to sell a certain amount of EVs but can buy sales credits from other firms or borrow from their quota for future years. However, industry leaders have criticised the incentives, warning that they are unsustainable and that they cannot meet the UK’s world-leading ambitions alone.
New registrations of traditional petrol and diesel cars continue to decline, with sales of new petrol cars down more than 17%, diesel down over 10% and hybrids and plug-in hybrids decreasing by more than 3% and 1% respectively. The UK government plans to meet with car manufacturers to discuss EV targets in the coming days, with original targets stating that EVs must represent 22% of cars sold by 2024. Manufacturers have argued that without increased customer incentives, they will be unable to meet the current targets, stating that the figure is currently at 18.7% and will only reach 19% by the end of the year.
Despite the challenges, UK-based car companies are embracing the move to electric, with a number of firms outperforming the government’s EV targets. For instance, Vauxhall’s EVs account for 36% of its sales, Peugeot’s 29%, Renault’s 27%, MG’s 27%, and Skoda’s 23%. Similarly, Jaguar recently attracted a lot of attention after rebranding as an electric-only carmaker, with other brands expected to follow suit. While some policymakers worry that the electric car push could lead to job losses in the short term, the drive toward EVs represents a crucial step in the fight against climate change and the transition away from a fossil fuel-dominated economy
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