The UK new car market remained stable in August, down just
-1.3%, according to the latest figures from the Society of Motor
Manufacturers and Traders (SMMT). In what is traditionally
one of the quietest months of the year for new car sales, with
many buyers preferring to wait until September's new number
plate, 84,575 units were registered, just
1,082 fewer than in the same month last year.
Continuing the recent trend, fleet purchases drove the market,
accounting for six in 10 cars registered last month, or
51,329 units, despite a -1.2% drop compared with the same month
last year, Registrations by private buyers, meanwhile, were
flat, up 0.2% units to 32,110. Business registrations were down
by -30.3% to 1,136 units.
Petrol and diesel uptake fell by -10.1% and -7.3%
respectively, but together these fuel types still represented
more than half (56.8%) of all new car uptake in
August. Plug-in hybrid (PHEV) registrations declined -12.3%,
with a 6.8% share, but hybrid electric vehicle (HEV) uptake
increased, by 36.1%, to take 13.8% of the market.
Battery electric vehicle (BEV) registrations, meanwhile, rose
10.8% thanks to heavy discounting by manufacturers over the
summer and a raft of new models attracting buyers. Market share
in August reached 22.6%, the highest for a month since December
2022, when BEVs commanded 32.9% of all new cars reaching the
road.1
Year to date, BEV market share has edged up to 17.2% and is
expected to rise further to 18.5% by the end of the year thanks
to increasing model choice – with some 364,000 BEVs registrations
forecast for the year.2Despite this growth, this will
still be shy of the 22% required by the Zero Emission Vehicle
Mandate.
Ahead of the Autumn Budget due on 30 October, the industry is
calling for urgent action to bolster the market for new EVs,
including binding targets on public chargepoint provision
commensurate with those placed on industry, the reintroduction of
incentives for private buyers and removal of disincentives,
including the Vehicle Excise Duty expensive car supplement, set
to be introduced in 2025.
Mike Hawes, SMMT Chief Executive, said,
“August's EV growth is welcome, but it's always a very low volume
month and so subject to distortions ahead of September's number
plate change. The introduction of the new 74 plate, together with
a raft of compelling offers and discounts from manufacturers,
plus growing model choice, will help increase purchase
consideration and be a true barometer for market demand.
Encouraging a mass market shift to EVs remains a challenge,
however, and urgent action must be taken to help buyers overcome
affordability issues and concerns about chargepoint provision.”
