The UK new automobile market grew 21.0% in September with 272,610 registrations within the month, in accordance with the most recent 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.

Development continued to be pushed by giant fleets, which rose 40.8% to 143,256 models to achieve a market share of 52.5%. This represents a market rebalancing after constrained provide in 2022 restricted deliveries to enterprise and fleet clients. Personal shopper demand, in the meantime, additionally grew, up 5.8% to 122,944 models. Because of this, 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 have been pushed solely by fleet purchases, which rose by 50.6% as consumers have been drawn to the superior know-how, excellent efficiency, decreased environmental affect and compelling tax incentives. Conversely, non-public BEV registrations fell -14.3% with lower than one in 10 non-public new automobile consumers choosing electrical throughout 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 lately printed Zero Emission Automobile Mandate requires ZEVs to comprise half of every producer’s new registrations inside 5 years, and 80% by 2030. Reaching this may rely on non-public consumers making the transition, together with enterprise and fleet clients. Nonetheless, in contrast to within the different main markets working in direction of a 2035 finish of sale date, UK non-public motorists haven’t any buy incentive to encourage them to spend money on electrical mobility.³

Mike Hawes, SMMT Chief Government, mentioned,

A bumper September means the brand new automobile market stays sturdy regardless of financial challenges. Nonetheless, with more durable EV targets for producers coming into drive 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 according to how electrical automobile gross sales at the moment are to be dictated. The forthcoming Autumn Assertion is the proper alternative to create the circumstances that may ship the zero emission mobility important to our shared internet zero ambition.

SOURCE: SMMT