EV registrations hit record

New data from Gecko Risk shows that battery electric vehicle (BEV) registrations in the UK reached a record high in March 2026, with 89,379 new cars and vans registered during the month.

This represents a 22% increase compared to the same period last year and surpasses the previous monthly record set in September 2025. Despite this growth, BEVs accounted for 22.6% of total market share, remaining below the 33% zero emission vehicle mandate target for 2026.

Data from the report highlights shifting dynamics within the market, with Tesla and BYD leading registrations in March, followed by Kia, Ford and Volkswagen. The trend suggests increasing demand for more affordable electric vehicles, with newer manufacturers continuing to gain market share against more established premium brands.

Alongside growth in registrations, the report also points to a downward trend in BEV repair costs. For the second consecutive month, average repair costs have fallen, following a peak in January 2026. The report suggests costs have declined in line with seasonal patterns and are now lower than in previous years, with reductions of four percent compared to Q4 2024 and nine percent compared to Q4 2023.

Manufacturer-level data shows varying repair cost trends, with BMW seeing the largest monthly reduction. Over a 12-month period, Volkswagen remains among the least expensive to repair, reflecting differences in vehicle price points and repair complexity.

The report also highlights external factors influencing EV demand. Rising petrol prices have driven increased consumer interest, with new EV leads up 28% and used EV enquiries rising by 15%.