The UK new automobile market grew 21.0% in September with 272,610 registrations within the month, in line with the most recent figures from the Society of Motor Producers and Merchants (SMMT). The 14th consecutive month of progress 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.

Progress continued to be pushed by massive 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. Non-public shopper demand, in the meantime, additionally grew, up 5.8% to 122,944 models. Because of this, the trade 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 automobiles (PHEVs) up 50.9% to take a 6.8% market share and hybrid electrical automobiles (HEVs) up 30.7% to account for 13.9% of all registrations. Battery electrical automobiles (BEVs), in the meantime, recorded their forty first consecutive month of progress – with 45,323 drivers making the change, an 18.9% uplift. Given this progress 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 fully by fleet purchases, which rose by 50.6% as patrons have been drawn to the superior know-how, excellent efficiency, lowered environmental influence and compelling tax incentives. Conversely, non-public BEV registrations fell -14.3% with lower than one in 10 non-public new automobile patrons choosing electrical in the course of 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 revealed Zero Emission Automobile Mandate requires ZEVs to comprise half of every producer’s new registrations inside 5 years, and 80% by 2030. Attaining it will rely upon non-public patrons making the transition, together with enterprise and fleet clients. Nevertheless, not like 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 robust regardless of financial challenges. Nevertheless, with more durable EV targets for producers coming into pressure 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 consistent with how electrical automobile gross sales at the moment are to be dictated. The forthcoming Autumn Assertion is the right alternative to create the circumstances that can ship the zero emission mobility important to our shared web zero ambition.

SOURCE: SMMT