The fleet car market share taken by EVs fell by 10% during the first half of 2024, with most of this demand switching to plug-in hybrids, according to Cap HPI.
The automotive data firm said its Insight report showed that the share of the fleet market taken by EVs between January and June was 41%, down from 51.8% during the same period in 2023.
In contrast, the market share taken by plug-in hybrids rose from 14.5% to 23%.
Conventional hybrids rose from 4.9% to 6.1%, petrol cars rose from 23.9% to 25.8%, and diesels fell from 4.9% to 4.1%.
Cap HPI senior product specialist Andrew Turner said: “The mix for alternative vehicles has changed, with plug-in hybrid and hybrid rising and EV falling.
“Overall, the Insight market is fairly flat compared to the same period in 2023, and this may be driven by the slowdown in electric car registrations, given their popularity in this sector.
“With new market entrants targeting the fleet sector for growth, it will be interesting to see how a wider range of models and price points will impact the EV share of the market over the coming months.”
