Thursday 5 October 2023

UK new car market grows 21%, private BEV registrations dip

UK new car market grows 21%, private BEV registrations dip

The UK's new car market showed robust growth in September, surging by 21%, marking the 14th consecutive month of expansion.

This growth is driven by the increasing demand for electric vehicles (EVs), according to the Society of Motor Manufacturers and Traders (SMMT).

In September, battery electric vehicles (BEVs) recorded their 41st consecutive month of growth, demonstrating a consistent trend towards electric mobility.

Nearly 45,300 new BEVs hit the roads, marking an 18.9% increase.

However, despite this positive trend, the BEV market share slightly decreased from 16.9% to 16.6% compared to the same period last year, according to the report.

Fleet purchases played a pivotal role in boosting BEV sales, surging by 50.6%.

Private consumer uptake of BEVs declined by -14.3%.

Less than one in ten private car buyers opted for EVs during the month.

Mike Hawes, SMMT Chief Executive, said: "A bumper September means the new car market remains strong despite economic challenges. However, with tougher EV targets for manufacturers coming into force next year, we need to accelerate the transition, encouraging all motorists to make the switch.

"This means adding carrots to the stick - creating private purchase incentives aligned with business benefits, equalising on-street charging VAT with off-street domestic rates and mandating chargepoint rollout in line with how electric vehicle sales are now to be dictated.

"The forthcoming Autumn Statement is the perfect opportunity to create the conditions that will deliver the zero emission mobility essential to our shared net zero ambition."

Written by

Sumit Bose

Trending Articles