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Petrol car sales in Britain have plunged to an all-time low as manufacturers ration supplies to hit tough electric vehicle (EV) targets.
Just 29pc of new cars sold in November were petrol vehicles, according to analysis of registration data by New Automotive, down from 42pc a year earlier.
By contrast electric vehicles took a market share of 25pc, up from 16pc previously.
It came amid a separate warning from Auto Trader that 2024 would be the “peak” year for petrol cars on the road. The vehicles are expected to be in permanent decline from now on as the Government forces manufacturers to focus on selling electric vehicles.
The number of petrol cars on the road is expected to tumble from 18.7m today to 11.1m over the next decade, according to Auto Trader.
At the same time, the number of EVs is forecast to jump from 1.25m to 13.7m.
The seismic change in the market comes as the Government forces manufacturers and drivers to go electric through its legally-enforced sales targets for EVs, known as the ZEV mandate.
Under the rules, 22pc of sales must be electric this year, rising to 28pc next year and increasing annually to 80pc by 2030.
Manufacturers that sell too many petrol cars are liable for fines of £15,000 per vehicle, although a number of “flexibilities” are built into the scheme such as carbon credit trading.
Companies including Vauxhall-owner Stellantis, Ford and Nissan argue the current regime is too tough.
They say that consumer demand has not been as strong as expected, with high EV prices still putting off many drivers.
As previously revealed by The Telegraph, some manufacturers have rationed supplies of petrol cars to dealerships in order to artificially boost the proportion of EVs they are selling.
On Wednesday, Auto Trader said it did not currently expect car makers to meet the ZEV mandate’s annual targets until 2027.
Nathan Coe, the company’s chief executive, said ministers should look again at the current policy regime – particularly the £15,000 fines which could pose an “existential risk” to car makers.
Mr Coe said: “The problem we see with the mandate at the moment is the fines.
“Generally, when you get fined in life, it is to discourage you from doing things: You know, ‘Don’t speed, pay for your parking.’
“It is not generally ‘we’ll bankrupt you’, it’s not an existential thing. I think the real risk is that the fines are not just punitive – they’re existential.”
Last week, Stellantis closed its van factory in Luton and blamed the ZEV mandate for the decision.
Manufacturers are urging ministers to relax the requirements, or boost demand for EVs with consumer incentives.