The UK’s automotive trade association has warned that urgent changes need to be made to electric car targets or the industry could fail to meet its zero emission goals.
In July, more than 43,000 new electric cars were registered in the UK, capturing an impressive 27.5 per cent of the total market share.
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Electric vehicles jumped by 44.5 per cent year-on-year, beating out all other powertrains in terms of annual growth.
Monthly sales of petrol and diesel continue to fall, with 40.1 per cent and 4.2 per cent of the total market share, respectively.
While electric car sales are flourishing, experts are warning that it is still not enough to meet targets outlined in the Zero Emission Vehicle (ZEV) mandate.
The mandate states that manufacturers must have a minimum percentage of sales come from electric vehicles, with targets increasing every year.
A 33 per cent target exists for the end of 2026, which will rise to 80 per cent by 2030 and 100 per cent in 2035, at which point, only new zero emission vehicles will be on sale.
Although flexibilities are available to manufacturers to meet the targets, including trading credits, experts have warned that this may not be enough.
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), warned that massive discounts from car brands were not sustainable.
He stated that “no one understands their markets better than manufacturers and their dealer networks”, given that they are the ones facing the consequences if they fall foul of the rules.
Mr Hawes added: “The reality is that not a single manufacturer – UK-based or importing, in credit or not – believes the regulated 2030 target of 80 per cent is on track, let alone the 95 per cent the Committee for Climate Change suggests is achievable for both cars and vans.
“With just three and a half years to go, and despite unprecedented incentives, BEV share is 25.3 per cent for cars and not even half that for vans.
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“Urgent reform of the mandate is therefore needed, alongside renewed commitment from all stakeholders to build consumer confidence.”
Reports suggested that the Government was considering making wholesale changes to the ZEV mandate prior to the resignation of Sir Keir Starmer as Prime Minister.
It stated that the 2030 target would have been reduced from 80 per cent to just 50 per cent, in a major step change to the current levels.
Labour’s Electric Car Grant, which has been backed by almost £2billion in funding, has helped more than 140,000 drivers invest in a new zero emission vehicle over the last year.
Despite this, the SMMT, in addition to vehicle manufacturers, have called for the Government to launch a fresh consultation into the terms of the ZEV mandate.
This is expected to be delivered by early next year, although some industry voices have demanded an earlier intervention.
A Department for Transport spokesperson said: “We’re committed to the ZEV Mandate and are backing the transition to electric with £7.5billion to grow the market, boost EV manufacturing, increase sales and build up the UK charging network.
“The UK EV market is strong, but we’ve always said we’ll review the mandate to ensure taking a pragmatic and balanced approach that supports British industry and continues to drive investment.”
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