Latest UK new registrations – February 2025

Green shoots for EV

With headlines news on declining Tesla sales and February being a traditionally slow month, with many buyers wait for the new number plate release in March, there are some green shoots for EV:

• Overall car sales slightly down by 1% driven by a lack of adoption in fleet vehicles, a reduction by approx. 4%, whereas private car buyers help make up the deficit, by 4.6%

EV’s Continue to Grow

• Battery electric vehicle (BEV) registrations were up 41.7% to 21,244 units, securing a 25.3% market share compared with 17.7% a year ago.
• This increase compared with the rest of the market was unsurprising considering the forthcoming tax changes in April, which will see many EV models subject to the vehicle excise duty expensive car supplement (ECS) for the first time.
• Next month is likely to see a further surge in EV uptake, as buyers capitalise on the new ’25 plate and take their last chance to avoid the punitive ECS which, from 1 April, will add £2,125 over six years to the cost of BEVs with a list price above £40,000.

 

“Although February’s figures show a subdued overall market, the good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support. It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February. With the all-important March number plate change now upon us, and tax changes taking effect in April that will, perversely, dissuade EV purchases, we expect significant demand for these new products next month – but, long term, EV consumers need carrots, not ever more sticks.”

Mike Hawes, SMMT Chief Executive

Statistics and commentary from SMMT https://www.smmt.co.uk/