New cars sales down despite EV and hybrid growth
New car sales in the UK fell by two per cent in August to 82,908 units, according to the Society of Motor Manufacturers and Traders.
Fleet sales accounted for 59% of all new vehicle sales despite a 4.6% reduction in volumes, while sales to private buyers was up by 0.7% and sales to the business sector rose by 41.6%.
Meanwhile, electric vehicle registrations increased by 14.9% to reach a market share of 26.5%, which is the highest this year and the fourth highest on record.
But growth in EV sales was dwarfed by surging demand for plug-in hybrids, with sales up 69.4% to account for and 11.8% market share, while hybrid sales fell by 13.9% to account for 11.4% of the market.
Year-to-date, the new car market is up 2.1% to a five-year peak of 1.265 million – although it still remains 16.7% down on pre-pandemic levels. EVs comprise 21.9% of all sales, which is below the 28% stipulated by the ZEV Mandate.
Positive EV trend
Mike Hawes, SMMT chief executive, said: “August was the best month yet this year for EV market share and, while it is often volatile due to low overall volumes, the overall trend is positive. September will be critical, with the new number plate factor typically driving around one in seven new car registrations for the year.
“There is now a vast choice of electric models across all segments and many consumers will also, for the first time in three years, benefit from a grant to help them switch to electric.
“With more models being added to the government’s Electric Car grant each week, there is now every reason for drivers to make the switch, helping deliver both economic growth and decarbonisation.”
