In September, during the '74' plate change period, the UK saw a rise in new car registrations fueled largely by significant discounts on electric vehicles (EVs), according to the Society of Motor Manufacturers and Traders (SMMT).
The number of new cars sold increased by 1.0% to a total of 275,239 units. Typically one of the most lucrative months for car registrations, only surpassed by March, this was the strongest performance since 2020, although it remains 19.8% below the levels seen in pre-pandemic September 2019.
The growth was primarily driven by fleet purchases, which rose by 3.7%, while private consumer demand fell by 1.8%, and the smaller business sector experienced an 8.4% decline in volume.
Notably, the demand for plug-in hybrids surged more than any other fuel type in September, with figures increasing by 32.1%. Registrations of hybrid electric vehicles rose by 2.6%, whereas petrol and diesel registrations dropped by 9.3% and 7.1%, respectively. Year-to-date data shows a 4.3% increase in new car registrations compared to the previous year.
Mike Hawes, SMMT Chief Executive, commented, "The record EV performance in September is encouraging, but there are significant concerns as the market is not growing at a pace sufficient to meet mandated targets."
He further stated, "Despite billions spent by manufacturers on product and market support—which is not sustainable long-term—the current market weakness threatens environmental goals and future investment prospects."