Despite offering substantial discounts to entice buyers, car manufacturers struggled to meet government targets for electric vehicle (EV) sales in 2024. Only 10.1% of private car purchases were EVs, falling short of the 22% target set by the Zero Emission Vehicle (ZEV) Mandate.
The ZEV Mandate, introduced in 2024, requires manufacturers to meet increasing annual quotas for EV sales, with penalties for non-compliance. While EV registrations increased in December, likely influenced by efforts to meet year-end targets, the overall market share for 2024 fell short of expectations.
Industry leaders have expressed concerns about the sustainability of these price cuts and have urged the government to provide greater support for EV adoption, including improvements to charging infrastructure.
The lack of buyer demand for EVs raises questions about the feasibility of achieving the government’s ambitious target of phasing out the sale of new petrol and diesel cars by 2030.
Source: Daily Mail