The UK new car market rose 1.0% in the key ‘74’ plate change month of September, to 275,239 units, according to the Society of Motor Manufacturers and Traders (SMMT). The performance was the best since 2020, but still -19.8% off pre-Covid September 2019.
Growth was driven by fleet purchases, up 3.7% to 149,095 units and representing 54.2% of the overall market. Private consumer demand fell, by -1.8% to 120,272 units, accounting for 43.7% of registrations, while the smaller business sector saw volumes fall -8.4% to 5,872 units.
Mike Hawes, SMMT Chief Executive, said: “September’s record EV performance is good news, but look under the bonnet and there are serious concerns as the market is not growing quickly enough to meet mandated targets.
“Despite manufacturers spending billions on both product and market support – support that the industry cannot sustain indefinitely – market weakness is putting environmental ambitions at risk and jeopardising future investment.
“While we appreciate the pressures on the public purse, the Chancellor must use the forthcoming Budget to introduce bold measures on consumer support and infrastructure to get the transition back on track, and with it the economic growth and environmental benefits we all crave.”
Uptake of PHEVs grew faster than any other fuel type in the month, up 32.1% to take an 8.9% share of the market. HEV registrations rose 2.6%, boosting market share to 14.2%, while petrol and diesel registrations declined by -9.3% and -7.1% respectively.
Demand for the latest BEVs hit a new record volume for any month in September, up 24.4% to 56,387 units, a 20.5% share of the overall market, up from 16.6% a year ago.
Fleets deliveries rising 36.8% to account for 75.9% of BEV registrations. Private BEV demand also rose, up 3.6% after unprecedented manufacturer discounting, equivalent to just 410 additional registrations. Year-to-date private BEV demand remains down -6.3%