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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.”