Rise in plug-in hybrid company car registrations

Market share for battery electric vehicle (BEV) fleet registrations has declined year-on-year with plug-in hybrids (PHEVs) being the main beneficiary.

New analysis by CAP HPI shows that year-to-date fleet BEV share in 2024 is 38.3%, a decline on the 50% seen in the same period last year. 

PHEV company cars, however, have shown substantial growth year-on-year.

PHEV registrations increased from 14.1% to 24.5% of the fleet market. Diesel market share fell from 5.1% to 4.2%, while petrol share increased from 25.8% to 26.5%. 

Source: Cap HPI

Andrew Turner, senior product specialist at Cap HPI consulting, said: "PHEV registrations continue to go from strength to strength. There are more choices available in the market, and technology continues to advance.

“Clearly, they are proving popular with fleet drivers and no doubt provide a bridge to BEVs on the road to net zero." 

The Audi A3 is the top registering range for the first four months of 2024, with Tesla Model Y and VW Golf making up the top three for fleet registrations.

The A3 is also the top registered vehicle for April, with a strong month for the BMW i4 in second, and it’s seen a rise to fourth in the year-to-date table.  

Souce:Cap HPI

The analysis is drawn from Cap HPI’s Insight market volume data, which is developed with the support of the UK's largest fleet companies. 

It provides insights on emerging trends and helps teams use accurate and timely data to monitor the industry. 

Electric cars grow to 18% of new sales in April 2024

Separate data from New AutoMotive for the UK new car market as a whole, shows that sales of electric cars grew 5% to 24,000 in April 2024, accounting for 18% of new car sales.

The growth in sales means that in the first five months of 2024, 16.3% of new cars were fully electric, up from 15.9% in 2023, despite a continued fall in sales by market leader Tesla.

Souce: New Automotive

Ben Nelmes, CEO of New AutoMotive, said: “With the UK general election campaign in full swing, the data shows a clear swing towards electric cars.

“This progress is being driven by the UK’s world-leading zero emissions vehicle mandate. Whoever forms the next government should commit to maintain the UK’s leadership on cleaner, cheaper transport.”