The UK new automotive market grew 21.0% in September with 272,610 registrations within the month, in accordance with the newest figures from the Society of Motor Producers and Merchants (SMMT). The 14th consecutive month of development was additionally the second busiest of the 12 months after March, with the brand new quantity plate delivering its conventional market surge regardless of a difficult financial backdrop.

Progress continued to be pushed by giant fleets, which rose 40.8% to 143,256 items to succeed in a market share of 52.5%. This represents a market rebalancing after constrained provide in 2022 restricted deliveries to enterprise and fleet clients. Personal client demand, in the meantime, additionally grew, up 5.8% to 122,944 items. Consequently, the business loved its greatest September since 2020,¹ though registrations stay -20.6% beneath pre-pandemic ranges.²

Electrified automobile uptake continued to develop within the month, with plug-in hybrid autos (PHEVs) up 50.9% to take a 6.8% market share and hybrid electrical autos (HEVs) up 30.7% to account for 13.9% of all registrations. Battery electrical autos (BEVs), in the meantime, recorded their forty first consecutive month of development – with 45,323 drivers making the change, an 18.9% uplift. Given this development was lower than the general recorded by the market, nonetheless, BEV market share slipped again barely to 16.6% from 16.9% a 12 months in the past.

BEV quantity will increase had been pushed completely by fleet purchases, which rose by 50.6% as consumers had been drawn to the superior expertise, excellent efficiency, diminished environmental affect and compelling tax incentives. Conversely, non-public BEV registrations fell -14.3% with lower than one in 10 non-public new automotive consumers choosing electrical through the month. Such a decline underlines the significance of offering these motorists with buy incentives and different mechanisms to stimulate demand.

Regardless of an finish of sale date now aligned with different main markets, the UK nonetheless has essentially the most difficult zero emission automobile (ZEV) transition timeline. The just lately revealed Zero Emission Automobile Mandate requires ZEVs to comprise half of every producer’s new registrations inside 5 years, and 80% by 2030. Attaining this can rely on non-public consumers making the transition, together with enterprise and fleet clients. Nevertheless, not like within the different main markets working in direction of a 2035 finish of sale date, UK non-public motorists don’t have any buy incentive to encourage them to put money into electrical mobility.³

Mike Hawes, SMMT Chief Government, stated,

A bumper September means the brand new automotive market stays sturdy regardless of financial challenges. Nevertheless, with harder EV targets for producers coming into pressure subsequent 12 months, we have to speed up the transition, encouraging all motorists to make the change. This implies including carrots to the stick – creating non-public buy incentives aligned with enterprise advantages, equalising on-street charging VAT with off-street home charges and mandating chargepoint rollout in step with how electrical automobile gross sales are actually to be dictated. The forthcoming Autumn Assertion is the proper alternative to create the situations that can ship the zero emission mobility important to our shared web zero ambition.

SOURCE: SMMT