New car registrations rose 0.5% to 144,948 units in October, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).
Sales to fleets fell 1.5% but this was offset by a two per cent rise in registrations by private buyers and a 33s% increase in business registrations.
Meanwhile, electrified vehicles were the only powertrain to record growth as they accounted for nearly 51% of all sales, making them the majority of new car registrations for the second month in a row.
Electric vehicle uptake rose by 23.6%, or 7,028 additional units, to take a 25.4% market share, while plug-in hybrid vehicle uptake rose 27.2% to make up 12.1% of the market, and hybrid electric vehicles posted growth of 2.1% to claim a 13.3% share.
Year-to-date, the overall electric vehicle market is now up 28.9% to 386,244 units, which is more than registered in the whole of 2024. They now account for 22.4% of all new sales, which is still short of the 28% ZEV Mandate target.
New car market
The SMMT now predicts the overall new car market to reach 2.012 million this year, rising to 2.032 million units in 2026.
Electric vehicles are anticipated to reach 28.2% of all sales, which is below the 33% target and the gap is set to widen in 2027, with the electric vehicle share anticipated to hit 32.2% against a 38% target.
Mike Hawes, SMMT chief executive, said: “The government has backed the UK automotive sector with EV incentives and global trade deals, helping drive growth and encourage decarbonisation.
“But scrapping ECOS would undermine that progress – penalising workers, reducing Exchequer income and putting green investment at risk. At a time when the Budget should fuel growth, the measure will do the exact opposite. It is time for a rethink.”
