- In February 2023, plugin electric vehicles had a 22.9% share in the UK auto market, down from 25.6% in February 2022.
- The UK’s overall auto volume in February 2023 was 74,441 units, marking a 26% year-over-year growth.
- Chinese manufacturers have captured 8.2% of the European electric car market in 2023, selling 86,000 BEVs.
- Tesla Model Y was the best-selling vehicle overall in the UK in March 2023, with 8,123 units sold.
- More than 215,000 new plug-in cars were registered in the UK so far in 2023, representing over one-fifth of the market.
- Battery Electric Vehicles (BEVs) gained about 20% year-over-year, with 12,310 BEV units sold in February 2023.
- Inflation rates in the UK have surged to above 10%.
UK Auto Market Evolution
- In February 2023, the market share of plugin electric vehicles in the UK stood at 22.9%.
- This marks a decrease from February 2022, when plugin electric vehicles had a 25.6% share of the auto market.
- The overall auto volume in February 2023 was 74,441 units.
- Year-over-year, this represents a growth of 26% in overall auto volume.
- However, this is still below the seasonal norm of approximately 81,000 units, which was typical before the year 2020.
Chinese Electric Cars in the UK and European Market
- China’s influence in the European electric car market has significantly increased, with its market share more than doubling in less than two years.
- The UK stands as the premier market for Chinese electric car brands in Europe, contributing to nearly one-third of their total European sales in 2023.
- Approximately 5% of all new cars sold in the UK from January to July 2023 were manufactured by Chinese brands.
- Chinese automakers nearly matched their entire 2022 electric car sales in Europe within the first seven months of 2023.
- Chinese cars have expanded their footprint in the overall European auto market, growing from a 0.1% share in 2019 to 2.8% in the first seven months of 2023.
- In terms of battery-electric vehicles (BEVs), the market share escalated from 0.5% in 2019 to 3.9% in 2021.
- So far in 2023, Chinese manufacturers have captured 8.2% of the European electric car market, selling 86,000 BEVs.
- The MG4 EV ranks as the second most popular electric car in the UK for the period covering January to July 2023, trailing only behind Tesla’s Model Y SUV.
EV Adoption Trends in the UK
- Tesla set a new record for Model Y deliveries in the UK last month, contributing to an all-time high in the country’s electric vehicle market share.
- Orders for the Tesla Model Y opened late in 2021 in the UK, and deliveries started in February 2022.
- By March, the Tesla Model Y had already claimed the title of the best-selling electric vehicle in the UK.
- Leading the surge in electric vehicle sales, the Model Y has been a key driver in the 18% year-over-year increase in battery-electric vehicle sales.
- In March, the Tesla Model Y was not just the best-selling electric vehicle but also the best-selling vehicle overall in the UK, with 8,123 units sold.
- When it comes to the best-selling vehicles in the UK for the year 2023 so far, the Tesla Model Y ranks fourth with 5,888 units sold.
- The top ten list of best-selling vehicles in the UK in March also includes popular models like the Nissan Juke, Nissan Qashqai, and Kia Sportage, among others.
- For the year 2023 to date, other leading vehicles include the Nissan Qashqai, Nissan Juke, and Vauxhall Corsa.
- As of the latest data, battery-electric vehicles now make up an 18% share of the overall auto market in the UK.
UK’s Electric Vehicle Market
- UK car registrations rose by nearly 26% in June 2023, totaling 177,266.
- Total new registrations reached 949,720 in the first half of 2023.
- This marks an 18% increase year-over-year.
- The plug-in segment had its best June ever.
- SMMT reported 44,470 new plug-in cars were registered last month.
- This is a 46% increase from the previous year.
- Plug-ins made up 25.1% of total car sales.
- Last year, this share was 21.6%.
- All-electric and plug-in hybrid sales both saw significant growth compared to 2022.
- More than 215,000 new plug-in cars were registered so far this year.
- This is a 29% increase from last year.
- Plug-ins now account for over one-fifth of the market.
- Tesla Model Y was the best-selling model in June 2023 with over 5,500 units sold.
Plugin Vehicle Types Statistics
- In February 2023, full battery electric vehicles (BEVs) accounted for 16.5% of the UK’s auto market.
- Plugin hybrids (PHEVs) made up a smaller share, coming in at 6.3% in the same month.
- Comparatively, in February 2022, BEVs had a larger share at 17.7%.
- PHEVs also had a higher market share a year ago, standing at 7.9% in February 2022.
Petrol-Powertrain Volumes Trends
- Year-over-year, petrol-powertrain volumes increased from 23,952 units to 32,331 units.
Battery Electric Vehicles Trends
- The volume of Battery Electric Vehicles (BEVs) gained roughly 20% year-over-year.
- In February 2023, a total of 12,310 BEV units were sold.
- Tesla Model Y was the best selling full electric vehicle for the month, with 1,482 units sold.
- The Tesla Model Y alone accounted for 12% of the BEV market in February 2023.
- Two-thirds of Tesla’s total BEV market share came from Tesla Model Y sales.
Brand Rankings in the Electric Vehicle Market
- Volkswagen climbed in brand rankings, moving from 4th place to 2nd.
- Audi also saw a rise, ascending from 7th to 4th position.
- Polestar made significant strides, jumping from 9th to 6th place.
- Renault made an impressive leap from 17th to 7th in the rankings.
- Conversely, MG fell from 3rd to 5th place.
- Mercedes also saw a decline, dropping from 5th to 10th.
- Hyundai experienced a slide as well, falling from 8th to 11th place.
- Since the summer of 2022, Polestar has steadily climbed in the rankings.
- Renault Nissan made a significant leap, climbing from 8th to 4th place in the manufacturing group rankings over the three months leading up to November.
- Stellantis, on the other hand, experienced a decline, falling from 5th to 8th place in the same period.
Market Movements and Trends
- The UK economy has been hovering around 0% growth over the past two quarters.
- Inflation rates in the UK have surged to above 10%.
Influences and Impacts
- The overall auto market experienced a year-over-year growth of 26%, primarily attributed to easing supply chain shortages.