Car manufacturers are rapidly increasing EV sales, nearing 2024’s ZEV mandate targets.
Car manufacturers are ramping up electric vehicle (EV) sales, coming close to meeting the 2024 ZEV mandate targets. May saw EVs claim an 18% share of the UK car market. The trend continues with a 10% growth in overall EV sales for 2024.
Image; Car ZEV Mandate Tracker
Behind the scenes, car companies have made significant progress in complying with the ZEV mandate targets. Although the target for 2024 is often cited as 22%, there are various ways for manufacturers to meet the regulations. They can adjust their EV sales target by selling more fuel-efficient internal combustion engine (ICE) cars. This is a temporary measure granted over the next few years to accommodate the transition to ambitious targets in the future. Car manufacturers are effectively utilising this flexibility.
Currently, the target for the entire market stands at approximately 17.6% for 2024. In the first five months of the year, EV sales have accounted for 16.9% of total car sales, indicating that car companies are close to meeting the targets and accumulating surplus ZEV credits.
In summary, there’s evidence challenging the perception of ZEV mandate targets being too ambitious. Companies are making significant progress towards meeting them. For detailed data, visit newautomotive.org/ecc and sign up!
