Electric car statistics – EV market insights 2024-25

The current state of the EV market

New and used EV market highlights from 2024

• The UK’s new EV market had a record month in November 2024 when BEVs accounted for over 25% of all cars sold. This represents a 51% YoY increase.
• Meanwhile, petrol cars accounted for just 29% of new car registrations, marking an all-time low for the dominant powertrain.
• 1 in 3 used EVs are now priced under £20k, making electric motoring accessible to a wider audience than ever before.
• Many used EVs now match equivalent petrol models on price.

webuyanycar’s head of technical services, Richard Evans said:

“The UK’s car market is approaching a tipping point in its transition to EVs. In 2024, new car registrations for all electrified powertrains grew decisively. ”

“With generous discounts on many of the 132 BEV models available on the market, and continually improving chargepoint infrastructure, there’s never been a better time to make the switch!”

“There are plenty of great options for used buyers, too. Many used EVs have now reached price parity with their ICE equivalents, with some even undercutting them slightly!””

The gap between fleet and private demand

Although 2024 was a record year for new EV sales, there was a significant gap in the volume of fleet and private purchases. Market growth was achieved thanks to strong fleet sales – and despite reduced interest from private consumers.

• Only 1 in 10 private buyers bought a new BEV in 2024.

• Petrol was by far the most popular powertrain among private buyers, capturing 61% of the market, whilst HEVs were a distant second with a 16% market share.

• Conversely, BEVs proved far more popular among fleet and private buyers. A little over a quarter (25.4%) of all fleet and business registrations were BEVs – up 64,000 units from 2023.

The SMMT’s report noted that fleet and business buyers benefit from tax incentives that are not available to private consumers.

For instance, BEVs are eligible for a 100% first-year allowance, which allows businesses to write off the full cost of the purchase against their pre-tax profits. Such incentives appear to be highly effective when it comes to drawing in fleet buyers.

Source: SMMT

Consultation underway for the 2030 ICE ban and ZEV mandate

• The Department for Transport (DfT) has announced plans to ban the sale of all new ICE cars from 2030 – and all non-BEVs by 2035.
• On Christmas Eve 2024, the Government launched a consultation seeking views from industry insiders on how the 2030 ICE ban should be implemented – and how to ease the transition for businesses and consumers.
• These views will shape the decision on whether the initial 2030 ban will include hybrid HEVs - which utilise an electric motor and a petrol or diesel combustion engine.
• The consultation will also explore potential alternative compliance methods for the ZEV mandate targets.
• As of January 2025, over two-thirds of manufacturers operating within the UK market, including Nissan and the Stellantis group have committed to going all-electric by 2030.
• The SMMT’s chief executive, Mike Hawes said: “The automotive industry welcomes [the] government’s review of both the end of sale date for cars powered solely by petrol or diesel, and possible changes to the flexibilities around the Zero Emission Vehicle Mandate. These are both critical issues for an industry that is facing significant challenges globally as it tries to decarbonise ahead of natural market demand.”
• Hawes noted that the industry has already spent over £4 billion on EV discounts to meet sales targets and avoid fines – and highlighted the need for revised regulations to support delivery, together with incentives to increase demand.

ZEV new car sales targets in 2024

• BEVs achieved a 19.6% market share in 2024, which fell short of the Government’s ZEV mandate target of 22%.
• However, no car manufacturers are expected to pay fines for missing the ZEV mandate sales target in 2024.
• The ZEV mandate affords automakers the flexibility to make up the shortfall with credits from the sale of low-emission hybrids, and petrol and diesel models.
• The Energy and Climate Intelligence Unit (ECIU) stated that a further 3% credit was earned through the sale of low emission vehicles, which meant the target had been met.
• “Thanks to the flexibilities in the ZEV mandate, we’re confident the whole market has complied with the 22% target and that no car manufacturer will need to pay fines,” said a spokesperson from the Department for Transport (DfT).

Challenges and solutions in 2025 and beyond

• SMMT research showed that the UK’s automotive sector could generate £50 billion in green growth by 2035, if smart policies and consumer incentives are put into place.
• Auto Trader projects that EVs will secure a 23% market share in 2025 - falling short of the Government’s next ZEV mandate target of 28%.
• The online automotive marketplace also predicts that the number of petrol cars on UK roads will fall by 40% (from 18.7 million to 11.1 million) - and EV numbers will rise exponentially from 1.25 million to around 13.7 million by 2034.

Source: SMMT, Auto Trader

Rising ZEV mandate targets

• The ZEV mandate target will increase each year, rising to 28% in 2025 – and 80% in 2030.
• Meeting the 2025 ZEV mandate target will require a market uplift of almost 50%.
• Mike Hawes, SMMT chief executive, said: “A record year for EV registrations underscores vehicle manufacturers’ unswerving commitment to a decarbonised new car market, with more choice, better range and increased affordability than ever before. This has come at huge cost, however, with the billions invested in new models being supplemented by generous incentives which are unsustainable.”
• Various industry insiders have urged the Government to roll out incentives to attract more private EV registrations.

Source: SMMT

Market share by powertrain (2024-2018)

Bestselling EVs 2024-2022

UK BEV sales (2018-2024)

Used electric car sales

• Cinch data showed that used EV sales increased by 311% between July and September 2024 compared to the same period in 2023.
• SMMT data also revealed that 52,423 used EVs were sold in Q3 2024 – marking a 57% YoY increase. Between Q3 2023 and 2024, the used car market share for BEVs grew from 1.8% to 2.7%.
• SMMT chief executive Mike Hawes said, “Growth in the used car sector is good news and driven by an outstanding range of desirable and, increasingly, zero-emission vehicles, to suit every budget. Maintaining this depends on a healthy new car market, particularly for EVs.”
• According to data from Auto Trader’s Retail Price Index (RPI), used cars sold at a record pace in December 2024.
• The average used car took 33 days to sell, compared to 36 days in 2023, making this the fastest sale rate on record.
• BEV powertrain cars sold fastest of all – taking an average of 28 days to leave the forecourt. The average 3-to-5-year-old BEV was sold in a nimble 24 days.
• This fast turnaround was driven by robust demand and competitive pricing – but affected dealership’s profit margins in some cases.

Source: Cinch, SMMT, Auto Trader

EV chargepoint availability report 2024

As of December 2024, the UK Government is on track to reach its target of 300,000 public EV chargepoint installations by 2030, a report by the National Audit Office (NAO) revealed.

However, it was noted that there is a regional divide regarding the rollout of EV charging infrastructure.

How many EV charging stations are in the UK?

• At the end of December 2024, there were 73,699 public EV charging points in the UK, across 37,011 locations.
• There was also a total of 537 charging hubs. A charging hub is defined as a location with six or more rapid and/or ultra-rapid devices. (This data excludes Tesla-only locations.)

Private charging

• Most EV charging occurs at homes or workplaces. As of December 2024, there were approximately 850,000 private chargers in the UK.

Source: Zapmap

EV chargepoint growth trends 2020-2024

• 19,834 new public chargepoints were installed in 2024 – marking a 19% increase from the previous year.
• 1,105 net new public charging devices were added in December 2024.
• The number of public chargepoints grew from 20,964 in 2020 to 73,699 at the end of 2024 (and increased 37% YoY from 2023).

Source: Zapmap

Leading EV chargepoint providers

• As of 31st December 2024, the networks with the most public chargepoints are: Shell Recharge Ubitricity (8,984), Connected Kerb (5,865), and Pod Point (5,034).
• The leading providers of rapid and ultra-rapid devices was InstaVolt with 1801 devices, accounting for 12.4% of all public rapid/ultra-rapid chargers, followed by Tesla Supercharger with 1,761 (12.2%), and BP Pulse with 1,437 (9.9%).

Source: Zapmap

BEV registrations in 2023 by month

How many electric cars were registered in 2024?

In 2024, there were a total of 381,970 BEV registrations. This marks an increase of 67,283 units (over 20%) from the previous year.

How many electric cars were registered in 2023?

2023 was a record year for BEV sales in the UK, with a total 314,687 registrations.

How many BEVs are there in the UK?

At the end of December 2024, there were more than 1,360,000 BEVs in the UK. This means that slightly over 4% of the 34 million cars on UK roads are fully electric.

Looking back to the end of 2020, there were 205,770 BEVs on the road, representing just 0.6% of the UK’s total car parc. This figure has increased more than six-fold in the span of just four years!

Source: Zapmap, SMMT, Department for Transport (DfT)

Improving battery technology and the future of EVs

• Improved energy density: A recent study has showed a 50% improvement in energy density with advanced composite cathodes.
• Solid state batteries: Solid-state batteries eliminate flammable liquid electrolytes, dramatically reducing the risk of fires.
• Greater longevity: Thanks to innovations in solid electrolyte materials, batteries can weather more charge-discharge cycles, extending their lifespan.
• Samsung SDI is one of the companies leading the development of this technology. Vice President Koh Joo-young said: “We have delivered samples to customers from the end of last year to the beginning of this year and have received positive feedback.”
• Toyota is aiming to produce solid-state EV batteries with a 750-mile range and a charging time of just 10 minutes. The batteries will use a solid electrolyte as opposed to the liquid or gel found in lithium-ion batteries – and promise to provide greater energy density, safety, and longevity. The Japanese automaker is currently aiming for a 2027 or 2028 commercial launch.
• Goldman Sachs researchers have projected that average battery prices could fall towards $80 (£65) kWh by 2026 – which would mark a drop of almost 50% from 2023 levels.
• Nanowire batteries: Scientists at the University of California are developing nanowire batteries that could last forever. The gold nanowires used are a thousand times thinner than a human hair and sit in an electrolyte gel, which prevents them from breaking down whilst recharging. After being recharged over 200,000 times over three months, they showed no signs of degradation. Nanowire batteries also have greater energy density than lithium-ion batteries, meaning EVs could travel much further on a single charge.

Source: Monolith, Goldman Sachs, Green Cars

Different types of EVs

Here is a quick explainer on the various types of EV on the market:

Battery Electric Vehicles (BEVs)

Unlike the other hybrid variants on the market, BEVs are powered solely by an electric battery. Most BEVs have electric ranges between 100-300 miles.

(Whilst 200 miles or above is broadly considered a good range, a range of 100 miles may be sufficient depending on your daily commute.)

Plug-in Hybrid Electric Vehicles (PHEVs)

PHEVs are powered by a combination of an electric battery and a fossil fuel (petrol or diesel) engine.

PHEV batteries are smaller compared to those found in BEVs and typically provide a range of 15-40 miles.

However, some premium PHEVs do provide larger ranges, such as the Toyota RAV4 PHEV (46 miles), BMW 2 Series 225e (56 miles), the Mercedes-Benz GLE 350de (66 miles) - and the Polestar 1 (93 miles).

Just like a BEV, a PHEV can be plugged in to charge its electric battery.

Hybrid Electric Vehicles (HEVs)

A HEV is powered by a petrol and diesel engine, which charges a battery capable of propelling an electric drivetrain.

No manual charging is required with a HEV. Instead, the electric battery is recharged a little each time the driver brakes. This process is known as ‘regenerative braking’.

Unlike a PHEV, HEVs are not designed to be capable of running on electric power alone.

Mild hybrid electric vehicles (MHEVs)

A mild hybrid electric vehicle (MHEV) has a traditional combustion engine and a small electric battery, which helps it to run more efficiently. However, unlike other types of hybrid vehicles, it is incapable of running on electric power alone. Instead, the electric motor in a MHEV assists the ICE powertrain to improve efficiency.

There is no need to charge a MHEV. Instead, they convert the energy from braking into electricity, which is stored in the battery. Although MHEVs offer slightly better fuel economy compared to ICE equivalents, they cost more to run than other electrified cars.

Fuel cell electric vehicles (FCEVs)

Unlike other EVs that use a battery, fuel cell electric vehicles (FCEVs) utilise hydrogen to generate electricity, which powers the electric motor. Instead, a FCEV has a fuel stack that combines hydrogen with the oxygen in the air to create electricity and water vapour, which powers the electric motor and drives the car forward.

FCEVs can be refuelled in around five minutes (much quicker than traditional EVs) and typically have a range of 300 to 400 miles. They are often lighter than BEVs due to the lack of a battery.

However, whilst BEVs can convert around 80% of the electricity in their batteries, today’s FCEVs can only convert 40-60% of their fuel’s energy, meaning they are less efficient than traditional fully-electric cars.

Hydrogen cars are generally more expensive than traditional electric cars. The cost of hydrogen production and charging infrastructure – and the sophisticated fuel tanks themselves contribute to the higher price tags.

There are only around 300 FCEVs on UK roads – and some of these are buses. The lack of public charging infrastructure remains a barrier to widespread adoption. As of January 2025, there are only 16 hydrogen refuelling station in the UK.

How do EVs work?

EVs are powered by one or more electric motors rather than an ICE engine. These motors are powered by a rechargeable battery, which can be replenished by plugging the vehicle into an electric charger.

What factors affect EV performance?

Your real-world electric range may differ from the advertised figure (which often reflects a best-case scenario). Factors that affect EV performance include your driving style, weather conditions - and the degree to which features such as the in-car heating and air conditioning are used.

Smart energy recovery technology

EVs utilise technology that converts kinetic energy into electricity whilst braking or travelling uphill, automatically topping up the battery.