UK competes with Germany for European EV championship

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The UK is competing with Germany to become Europe's largest electric vehicle market by 2024. Automakers have spent about $4.5 billion on discounts to move away from internal combustion engine vehicles.

Electric cars accounted for 19.6% of new cars sold in the UK last year, according to figures from the Society of Motor Manufacturers and Traders. This is higher than the 16.5% in 2023 but well below the 22% target required by the UK's electric vehicle quota scheme.

The total number of electric vehicles sold in the UK rose by 21% to a record high of 382,000 this year, higher than the 347,048 sold in Germany between January and November. After subsidies were cut, electric vehicle sales in Germany fell 26% last year. Annual sales figures will be announced at the end of this month.

SMMT president Mike Hawes said there would be competition for the top spot. It will touch and move between the two markets.

UK EV sales share hit 31% in December, which is often a quiet month for car deals where last-minute EV deliveries can inflate market positions.

Despite strong sales growth, Hawes warned that retail demand for EVs remains sluggish, with only one in 10 individual consumers choosing an electric model. This has forced many automakers to offer incentives to convince consumers to buy EVs.

Current plans require that a certain percentage of each automaker's annual sales be zero-emission vehicles. This rate will reach 28% per year in 2024, 28% in 2024, and 80% in 2030. The company faces a fine of $15,000 per vehicle. Missed vehicle.

I want to say something very positive: this year has been a record year for zero-emission vehicle sales. But if you set a goal and don't achieve it, it's considered a failure, Hawes said.

SMMT calculated that car manufacturers would have to spend $1.8 billion to buy credits to avoid fines over the past year, while the Department for Transport said it was confident the flexibility of the current plan would mean no one would face financial penalties in 2024. .

The ZEV mandate, drawn up by the previous Conservative government when sales were expected to rise sharply, has been met with considerable criticism from the industry. The industry has warned that moving too quickly would result in job losses.

Labor ministers are now considering relaxing the rules to make it easier for car manufacturers to meet their targets, and launched a consultation on the plans last month.

The consultation will consider which hybrid cars can be sold alongside zero-emission models from 2030 to 2035, and whether to expand a scheme that allows car manufacturers to buy credits from rivals to meet their targets.

Even automakers that are on track to meet their goals warn that more incentives are needed to help the industry meet its ever-increasing goals a decade later.

Anyone who buys an EV through the company car scheme can enjoy generous tax breaks, but mainstream consumer purchase incentives were scaled back a few years ago, and car manufacturers say this has made it harder to sell models that are still more expensive than their petrol equivalents. says:

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Kia Motors, which is on track to meet its 2024 and 2025 targets, warned it may need more support later.

UK leader Paul Philpott said the transition from 33% in 2026 to 80% in 2030 was a big leap.

The brand, a subsidiary of South Korea's Hyundai Motor Company, has recorded record sales, driven by demand for its hybrid and fully electric models.

Incentives now will act as a really positive catalyst to build that momentum faster and make achieving your goals much simpler in the future.

The DfT said it had invested more than $2.3 billion to support industry and consumers in the transition, had launched more than 72,000 public chargers and launched a consultation to invite the sector to shape how to achieve the transition to ZEVs.

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