4 key EV trends from 2024

With 2024 coming to a close, we’re rounding up some of the key trends we’ve seen in the EV market this year.

Running an EV has become more convenient

Although EV critics often cite the need to charge EVs regularly as a barrier to adoption, automotive developments mean that even some of the cheapest EVs on sale now have a substantial range of over 200 miles. Some models can even travel over 400 miles, such as the Mercedes EQS, Volkswagen’s ID7, Peugeot e-3008.  

Addressing another concern, the number of public chargers has grown consistently this year. By 1st April 2024, nearly 60,000 public chargers had been installed across the UK, representing a 49% increase compared to a year earlier. By the end of November, this number had grown to 72,594, reflecting a growth of 37% since November 2023.

Regarding charging costs, although prices are higher in December 2024 compared with the same time last year, they have remained generally stable since March 2024. Overall, we can confidently say EVs have become easier to run in 2024.

Rise in the quality and quantity of EV models

Another key trend in 2024 has been the growth of variety of models available to UK drivers. With more than 125 different BEV models on sale, drivers now have an extensive choice and can choose a car to suit their needs. As such, there has been a significant increase in BEV sales. As of December, 338,314 new BEVs have been registered so far in 2024, representing 18.7% of all new car sales and making Britain Europe’s second-largest new BEV market by volume.

Furthermore, many models have been recognised for their quality features. The Cupra Born has been recognised for its handling, driving dynamics, and elegant interior, while the Volkswagen ID 7 has been praised for its family-friendly practicality and comfortable ride. For larger families, the seven-seater market is switching to electric too. The futuristic-looking Kia EV9 has been rated as the best seven-seat EV on sale by The Independent, owing to its over 300-mile range and fast charging ability; it can be charged from 10% to 80% in just 20 minutes!

In short, the number of models on sale has benefited drivers in 2024, making EVs more suitable for families and driving enthusiasts alike.

New and used EVs are now cheaper

So, what about cost? Despite traditionally being associated with high prices, 2024 has seen price parity between EVs and ICEs for the first time. For example, the new Vauxhall Frontera SUV, launched in autumn 2024, offers electric and hybrid versions starting at £23,495. In the used market, the AA reported that prices of used EVs and hybrid vehicles had fallen by 12% over the year from summer 2023 to 2024.  

Similarly, second-hand vehicles such as the Volkswagen e-Up and Seat Mii Electric have seen prices decrease by over 40%. If a long-range second-hand EV is needed, 2024 has seen the used market transform; you can now pick up a three-year-old Tesla Model 3 or Kia e-Niro for as little as £14,000. These cars will do an impressive 250-300 miles on a single charge.

Clearly, a key trend this year has been the decline in the price of both new and used EVs.

Environmental and employment benefits

This year has also seen improvements in environmental across EV technology. Ecobat, a battery recycling firm, has been leading the way in EV battery recycling and has begun working with car manufacturers to extend battery lifespans and repurpose them for second-life applications.

In addition, the transition to EVs is bringing new job opportunities too. This year, Nissan has led in the creation of MADE NE, a training hub which aims to boost skills in the automotive sector.  

2024 has seen EV battery technology become more sustainable and more jobs being created by the transition. These trends are truly positive developments.

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