Deloitte comments on SMMT new car reg figures for February 2024
Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said:
“February was a promising month for battery electric vehicles (BEV) as they achieved 18% market share. However, some manufacturers are starting to lag behind their zero emission vehicle (ZEV) targets, which requires at least 22% of new cars to be zero-emission in 2024.
“To sustain growth in the market there needs to be a holistic approach to incentives for new and used cars, as well as charging infrastructure.
“Our surveys show the lack of charging infrastructure and affordability of new EVs remain the top concerns for consumers – with 71% expecting to spend less than £30k for a new or used EV.
“We should be seeing a wider and more affordable range of EV models coming to the UK market in the year ahead, including those offered by new brands which should help drive growth in the sector.”
About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.
Member of Deloitte Touche Tohmatsu Limited.