BEV registrations off to a rocky start in 2024
05 February 2024
January new car registrations, out at 9am on Monday 5 February, are expected to reveal a significant drop in BEV market share against the overall figure for 2023, according to Auto Retail Agenda sources.
With a couple of days to go to the end of the month, Auto Retail Agenda understood that EVs accounted for around 14% of the market. While this is up from January 2023’s 13% share, it compared poorly against the end of 2023, which had an EV share of 16.5%.
One source said: “It’s a surprise, because we were expecting some sandbagging of EVs in December, then dumping them in January to help with the ZEV targets this year. That’s just not happened.”
Retailers and manufacturers have said that retail demand for EVs is low and accounts for, at best, well below 10% of the total market.
Overall new car registrations for January 2024 are expected to be at, or just below, the same figure last year, with nearly 132,000 new cars.
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