The UK New Car Market Soars 21% in September: 14 Months of Continuous Growth
The latest data from the Society of Motor Manufacturers and Traders (SMMT) reveals that the UK’s new car market experienced robust growth in September, including increased EV demand, marking the 14th consecutive month of expansion. With 272,610 registrations during the month, this surge can be attributed to several key factors. Large fleets played a significant role in this growth, registering a remarkable 40.8% increase, with private consumer demand also contributing by rising 5.8%.
EV demand increases
Furthermore, the adoption of electrified vehicles showed no signs of slowing down. Plug-in hybrid vehicles (PHEVs) saw a substantial increase of 50.9%, securing a 6.8% market share. Hybrid electric vehicles (HEVs) continued their steady ascent, rising by 30.7% and accounting for 13.9% of all registrations. Battery electric vehicles (BEVs) were the standout performers, marking their 41st consecutive month of growth with 45,323 units sold, reflecting an impressive 18.9% increase.
SMMT Chief Executive, Mike Hawes, noted that while the strong performance of the new car market is commendable, there’s a need to expedite the transition to electric vehicles. With stricter EV targets for manufacturers on the horizon, he suggested measures like offering incentives for private purchases aligned with business benefits, equalizing on-street charging VAT with off-street domestic rates, and mandating a chargepoint rollout that mirrors the pace of electric vehicle sales. The upcoming Autumn Statement provides a timely opportunity to create a conducive environment for zero-emission mobility, essential for achieving shared net-zero ambitions.
