Deloitte comments on new SMMT car reg figures for June 2024

Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte said:

“New car registrations continue to grow but still dominated by fleet sales. Efforts to incentivise private consumers to make the switch to electric needs ramping up, especially as the market share for electric vehicles is still below the required 22% as set out in the zero-emission vehicle mandate. 

“Whilst the rollout of superfast charging infrastructure is happening, there is a need for more accessible public charging. A Deloitte survey shows that consumers are more than twice as likely to be interested in switching to an electric vehicle if their home has access to off-street parking and charging facilities. The majority of people considering an electric vehicle want to charge their cars close to home, which makes charging a major barrier to purchase for consumers without access to off-street parking. 

“Plug-in hybrid electric vehicles are also becoming a more popular alternative for consumers with registrations up by 31% in the six months to June compared to the same period a year ago. This resurgence however has had an impact on suppliers who now need to support manufacturers with parts for both petrol and diesel cars, hybrids and electric vehicles, all simultaneously. As suppliers continue to navigate considerable budget pressures, this will likely result in further mergers and acquisitions and strategic partnerships between manufacturers and suppliers, so they can share the investment burden.” 

ENDS