Savills – Automotive Annual Market Commentary, Feb 2025

The report by Savills 'Automotive Annual Market Commentary' explores the challenges and dynamics in the transition from internal combustion engine vehicles to battery electric vehicles (BEVs). Whilst general new car registrations were up 2.6% for 2024, the transition to BEVs remains a primary focus for the automotive industry. However, the pace of change is slower than anticipated, with adoption levels at 19.6% of new car sales in 2024, falling short of the zero emission vehicle (ZEV) mandate of 22%. Fleet sales continue to dominate, while retail adoption lags behind with a lack of private demand.