The top 10 registered cars by fleets are dominated by EVs and hybrids, according to the latest Insight report from Cap HPI.

The top 10 registered cars by fleets are dominated by alternative fuel vehicles

The study of fleet registrations reveals Tesla Model Y was the top registering range for May, while other battery electric vehicles (BEVs) along with plug-in hybrids feature too.

The data also shows that while the Audi A3 remains the top-registering range for 2024 YtD, last year’s top seller, the Tesla Model Y, is starting to close the gap.

Andrew Turner, senior product specialist at Cap HPI Consulting, said: “The top 10 for 2024 is dominated by alternative fuel vehicles, mostly BEVs and PHEVs, with a smaller share of petrol and hybrid models included in some ranges. Clearly, many fleet drivers are seeking the BiK benefits these alternative fuel vehicles provide.

“The increasing popularity of PHEVs looks set to continue at least in the short term, particularly with launches of higher-electric range PHEVs qualifying for just 5% BiK tax. This provides not just lower tax costs for company car drivers but also what will likely be seen as a best-of-both-worlds option, with many of the benefits of BEVs but none of the perceived limitations.”

The 2024 year-to-date electric (BEV) Insight fleet share has risen to nearly 40%. However, it is still down over 10% compared to the same period in 2023. The PHEV share remains about 10% higher than in the same period last year.

Cap HPI’s Insight report provides monthly market data on fleet registrations by leading fleet operators. The software provides valuable insights on emerging trends and helps teams use accurate and timely data to monitor the industry.