UK EV Share At 23.4% – Tesla Leads



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September noticed the UK EV share at 23.4% of the auto market, up from 22.4% 12 months on 12 months. Full electrical gross sales grew in quantity by 19% YoY, barely much less progress than the general market. Total auto quantity was 272,610 models, up 21% YoY, although nonetheless far beneath pre-2020 seasonal norms. Tesla was once more the UK’s hottest BEV model.

September’s outcomes noticed UK mixed EV share at 23.4%, comprising 16.6% full electrics (BEVs), and 6.8% plugin hybrids (PHEVs). This compares with YoY shares of twenty-two.4%, with 16.9% BEV, and 5.5% PHEV. We are able to see that BEVs have marginally misplaced share in contrast with September 2022, while PHEVs have barely gained.

In quantity phrases, BEVs had been up 19.0% YoY to 45,323 models, with PHEVs up 51% to 18,535 models.

With PHEVs and HEVs the one powertrains to truly achieve share YoY, petrol-only share dropped from 40.7% to 38.7%, and diesel-only share dropped from 4.6% to three.6%.

The BEV fall in share YoY was merely because of Tesla having a comparatively low UK supply month, down by 31% (down by roughly 2,700 models) in comparison with September 2022, whereas different BEV manufacturers mixed noticed a progress of 85%, and 17,000 models. Had Tesla matched different BEVs supply progress price, we’d be taking a look at September BEV share of close to 20%, fairly than 16.6%.

Some might ponder whether this was simply an momentary allocation resolution from Tesla, or whether or not Tesla demand within the UK isn’t rising as rapidly because it did beforehand. The information strongly suggests solely a short lived allocation variation. Yr thus far previous to September, Tesla’s quantity has elevated by 48.4% YoY, a wholesome clip, together with progress throughout all current months. That progress price is larger than the UK’s general BEV progress price of 40.5% over that very same interval. It’s also attainable that maybe information concerning the current slight tweaks to the Mannequin 3 and Mannequin Y may additionally be an element, inflicting some brief time period fence sitting till the updates can arrive.

Regardless of the general market’s progress, diesel-only powertrains are in dangerous form, dropping 5% quantity YoY in September, and taking simply 3.6% share of the market. Yr thus far, they’ve misplaced 15% quantity, and cumulative share stands at 3.9%.

Bestselling BEV Manufacturers

Tesla was once more the perfect promoting model in September, with 14% of the UK’s BEV market. The Mannequin Y was not within the general UK prime 10 this month, however stays the UK’s 4th greatest promoting automobile 12 months thus far.

In a shock second place was Mercedes, simply forward of the MG Motor in third spot.

Mercedes is extra normally within the decrease half of the highest 10, so second place is a good consequence. The model’s September quantity was some 4.4x larger than current month-to-month averages, at shut to five,000 models, and 11.2% of the market, not removed from Tesla. Once more, this was seemingly a short lived allocation resolution, albeit within the reverse direct to Tesla, in all probability as a result of the house market in Germany was due for a hangover in September (report coming quickly) following incentive modifications.

Different modifications within the prime 10 rating had been extra minor, though Nissan stepped as much as ninth (from fifteenth in August).

Let’s have a look at the trailing 3 month knowledge:

Tesla nonetheless has a robust lead, although its share dropped to 16% from 17% within the earlier interval (Q2). MG Motor maintains its second place with share up 0.3% to 10.6%

Because of the robust September, Mercedes grew share to eight.2% from 4.9% beforehand, and climbed from ninth to fifth. Different modifications in rating had been extra muted.



Past the auto market’s first rate YoY progress, the general UK economic system stays within the doldrums, with newest GDP annual progress at 0.6%. Inflation stays excessive at 6.7%, and rates of interest are regular at 5.25%, their highest since 2008-2009. Manufacturing PMI improved barely to 44.3 factors in September, from 43 in August.

Clearly this financial state of affairs doesn’t bode properly for shopper spending on costly gadgets like autos, which is why BEV gross sales at the moment are stored up extra by firm or fleet spending, fairly than personal shopper purchases.

The UK’s business affiliation, the SMMT, stated “BEV quantity will increase had been pushed solely by fleet purchases, which rose by 50.6% as patrons had been drawn to the superior expertise, excellent efficiency, lowered environmental influence and compelling tax incentives. Conversely, personal BEV registrations fell -14.3% with lower than one in 10 personal new automobile patrons choosing electrical through the month.”

What are your ideas on the UK’s auto market transition? Please join within the dialogue beneath.



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