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Fleet orders drove January new automobile registrations uplift

Fleet and enterprise orders accounted for nearly two in each three new automobile registrations in January, when the month’s market ended at its highest degree since 2020.

Of the 142,876 new vehicles bought in January, which was 8.2% up on January 2023, 35% had been to personal motorists. In actual fact non-public registrations had been down nearly 16% 12 months on 12 months at 50,244 models.

Volkswagen, BMW and Kia occupied the three podium locations when it comes to gross sales quantity, though VW’s outcome was nearly 8% down on January 2023.

Through the month 20,935 battery electrical vehicles (BEVs) had been registered, which was 21% up 12 months on 12 months, and the share of the market taken by BEVs reached 14.7%.

Plug-in hybrids (PHEVs) recorded quantity development of 31.1% to take 8.4% of the market, whereas hybrid (HEV) volumes fell -1.2% with a 13.1% share.

The SMMT has highlighted that non-public demand for electrical vehicles has dropped and warns that is an ongoing pattern that can undermine the UK’s potential to ship web zero emissions.

Forward of subsequent month’s Price range from the Chancellor of the Exchequer, the SMMT is lobbying for presidency assist quickly halving VAT on new BEV purchases to make electrical vehicles extra reasonably priced and enticing for personal motorists.

It says such a step would value the Treasury a mean of simply £1,125 per automobile, and would put greater than 1 / 4 of 1,000,000 electrical vehicles on the highway by the tip of 2026, on prime of these already anticipated. Not solely would this reduce CO2 by greater than 5 million tonnes throughout that point, it will imply that the subsequent million EVs might be delivered in simply two years. 

“It’s taken simply over 20 years to succeed in our million EV milestone – however with the appropriate insurance policies, we will double down on that success in simply one other two,” stated Mike Hawes, SMMT chief govt.

“Market development is at present depending on companies and fleets. Authorities should due to this fact use the upcoming Price range to assist non-public EV patrons, quickly halving VAT to chop carbon, drive financial development and assist everybody make the change. 

“Producers have been requested to produce the automobiles, we now ask authorities to assist shoppers purchase the automobiles on which web zero relies upon.” 

Sue Robinson, Nationwide Franchised Sellers Affiliation chief govt, stated: “Regardless of the constructive begin to the 12 months, it can be crucial that the Authorities continues to assist the automotive trade in the course of the transition to zero emissions by investing in charging infrastructure and supply for monetary incentives for EV patrons. These points have been highlighted to the Authorities in NFDA’s 2024 Spring Price range submission.

“In NFDA’s 2024 outlook survey the highest three most prevalent causes given by dealerships as to why prospects usually are not contemplating buying an EV embody vary (82%), anxiousness round lack of chargers (82%) and price (80%).

“2024 seems set to be an essential 12 months for the automotive trade, and we’re assured that automotive retailers will proceed to indicate their robustness by way of these difficult occasions.”

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