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The UK’s electric vehicle (EV) market is experiencing a significant boom, with a new £650 million government grant and record sales in June resulting in one in four new cars being electric.
However, a recent report from financial analysis platform TradingPedia reveals that despite this growth, the UK still lags considerably behind global leaders in EV adoption.
According to TradingPedia’s analysis of new car registration data for 2023, 2024 and the first three months of 2025, the UK recorded 549,148 EV sales in 2024, encompassing both battery electric (BEVs) and plug-in hybrid vehicles (PHEVs). This figure places the UK fourth globally, behind giants like China (11.3 million), the United States (1.5 million), and Germany (572,514).
EVs accounted for 28.12% of all new car registrations in the UK in 2024, a substantial increase from the previous year. Yet, this market share positions the UK 11th globally, far behind the undisputed leader, Norway, where EVs comprise a remarkable 92% of the market.
“The UK’s growth in electric vehicle sales highlights the impact of government incentives and shifting consumer behaviour,” commented Michael Fisher, a data scientist at TradingPedia. “However, the UK’s EV market share is still significantly behind leaders like Norway, indicating room for expansion.”
Across Europe, the picture is mixed. While the UK saw a 20.4% rise in EV sales in 2024, overall European EV registrations dipped slightly by 2.18% compared to 2023, totaling 2.93 million units. This period also saw a notable surge in hybrid vehicle sales, increasing by 19.6%.
As Fisher notes: “Europe’s slight decline in EV registrations alongside rising hybrid sales reflects the complexities of this transitional phase, with hybrids helping to address range and infrastructure challenges.”
To sustain momentum, Fisher emphasized that “the UK must continue investing in incentives, charging infrastructure, and consumer education, while developing a strong secondary EV market to move beyond early adopters.” This comprehensive approach will be crucial for the UK to meet its climate goals and maintain competitiveness in the evolving automotive sector.
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