The Society of Motor Manufacturers and Traders (SMMT) expects that pure electric vehicles will account for 18.5% of the market by 2024.
The trade association had previously predicted that the figure would be around 20%.
Mike Hawes, chief executive of the SMMT, stated that decreased demand for electric cars (EVs) from private purchasers was a “overriding concern” for the sector, despite “generous” manufacturer discounts.
He added: “More people than ever are buying and driving EVs, but we still need the speed of change to quicken, or else the UK’s climate change aspirations are undermined and manufacturers’ ability to meet mandated EV targets.
Achieving market transformation at the desired rate necessitates increased consumer support, and with the all-important new number plate month of September approaching, action on incentives and infrastructure is required immediately.”
The SMMT also reduced its overall projection for new car registrations this year, from approximately 1,984,000 to 1,968,000.
More than 147,500 new cars were registered last month, a 2.5% increase from July 2023 and the 24th straight month of year-on-year growth.
According to the trade group, the Kia Sportage was the most popular car model to sell last month and the second most popular vehicle this year behind the Ford Puma.
