UK EV registrations climb in August

UK registrations of electric vehicles (EVs) jumped in August, reaching a record-high market share, as demand for metals used in batteries and powertrains continues to rise.

Registrations of battery-electric vehicles increased by 377.5pc in August to 3,147 vehicles from 659 vehicles in August 2018 as new models became available to meet some pent-up demand, data from the Society of Motor Manufacturers and Traders (SMMT) show. At the same time, total new vehicle registrations fell by 1.6pc year on year to 92,573 vehicles. That put battery-EV market share at a record high of 3.4pc of registrations in August, up from 0.7pc in August last year, the data show.

Registrations of plug-in hybrids dropped sharply by 71.8pc to 907 vehicles, from 3,215 vehicles in August 2018, but registrations of hybrids increased by 36.2pc to 4,014, with market share rising to 4.3pc from 3.1pc a year earlier.

"August is typically the new-car market's quietest month, so the huge increase in EV registrations is very visible but especially welcome," SMMT chief executive Mike Hawes said. "While this is encouraging, these figures also show the scale of the challenge ahead."

There are 27 models of hybrid vehicles, 27 plug-in hybrids, and 24 battery-electric and hydrogen models available in the UK, with the range set to nearly double in the next year. Increased production of EVs is expected to lift long-term demand for battery metals and rare earths used in powertrains.

But with demand lagging behind government targets, more needs to be done to address consumer concerns over the cost of owning an EV and the availability of infrastructure, SMMT said. There will be 51,000 battery-EV registrations in 2020, to account for a 2.2pc market share, with an additional 52,000 plug-in hybrids taking another 2.3pc market share, the industry body forecast.