LONDON, March 5 (Xinhua) -- Battery electric vehicle (BEV) registrations in the United Kingdom surged by 41.7 percent in February 2024, capturing 25.3 percent of new car sales, according to data released by the Society of Motor Manufacturers and Traders (SMMT) on Wednesday.
Despite this growth, the overall new car market declined slightly by 1.0 percent to 84,054 units, marking the fifth consecutive monthly drop. While private registrations increased by 4.6 percent and business sector volumes rose by 3.3 percent, a 4.0 percent decline in fleet registrations offset these gains. Electrified vehicles led the market's expansion, with plug-in hybrids (PHEVs) up 19.3 percent and hybrids (HEVs) rising 7.9 percent.
SMMT attributed the surge in BEV sales to buyers rushing to avoid upcoming tax changes, set to take effect in April 2024. The new policy will impose an annual 355 pounds (455 U.S. dollars) "expensive car supplement" on BEVs priced above 40,000 pounds. Given that most BEVs exceed this threshold due to high production costs, the society warned the measure could discourage further EV adoption.
Despite the recent momentum, BEV uptake remains below the 28 percent target for 2025. Manufacturers have invested over 4.5 billion pounds in discounts and market support over the past year, but SMMT cautioned that such efforts are unsustainable. The organization urged policymakers to enhance incentives for private buyers, accelerate the rollout of charging infrastructure, and introduce greater flexibility under the Zero Emission Vehicle Mandate.
"While February's figures show electric car uptake rising, this comes at huge cost to manufacturers," said SMMT Chief Executive Mike Hawes. "With March's plate change and April's tax changes looming, we expect a demand surge next month. Long-term, however, consumers need carrots, not ever more sticks, to drive a fair transition." (1 pound = 1.28 U.S. dollar) ■
