The UK new automotive market remained steady in August, down simply -1.3%, in keeping with the most recent figures from the Society of Motor Producers and Merchants (SMMT). In what’s historically one of many quietest months of the yr for brand spanking new automotive gross sales, with many patrons preferring to attend till September’s new quantity plate, 84,575 models had been registered, simply 1,082 fewer than in the identical month final yr.
Persevering with the latest development, fleet purchases drove the market, accounting for six in 10 automobiles registered final month, or 51,329 models, regardless of a -1.2% drop in contrast with the identical month final yr, Registrations by non-public patrons, in the meantime, had been flat, up 0.2% models to 32,110. Enterprise registrations had been down by -30.3% to 1,136 models.
Petrol and diesel uptake fell by -10.1% and -7.3% respectively, however collectively these gas sorts nonetheless represented greater than half (56.8%) of all new automotive uptake in August. Plug-in hybrid (PHEV) registrations declined -12.3%, with a 6.8% share, however hybrid electrical car (HEV) uptake elevated, by 36.1%, to take 13.8% of the market.
Battery electrical car (BEV) registrations, in the meantime, rose 10.8% due to heavy discounting by producers over the summer time and a raft of latest fashions attracting patrons. Market share in August reached 22.6%, the best for a month since December 2022, when BEVs commanded 32.9% of all new automobiles reaching the highway.
Yr to this point, BEV market share has edged as much as 17.2% and is anticipated to rise additional to 18.5% by the top of the yr due to rising mannequin alternative – with some 364,000 BEVs registrations forecast for the yr. Regardless of this development, this can nonetheless be shy of the 22% required by the Zero Emission Automobile Mandate.
Forward of the Autumn Funds due on 30 October, the business is looking for pressing motion to bolster the marketplace for new EVs, together with binding targets on public chargepoint provision commensurate with these positioned on business, the reintroduction of incentives for personal patrons and removing of disincentives, together with the Automobile Excise Obligation costly automotive complement, set to be launched in 2025.
Mike Hawes, SMMT Chief Govt, mentioned, “August’s EV development is welcome, however it’s all the time a really low quantity month and so topic to distortions forward of September’s quantity plate change. The introduction of the brand new 74 plate, along with a raft of compelling affords and reductions from producers, plus rising mannequin alternative, will assist improve buy consideration and be a real barometer for market demand. Encouraging a mass market shift to EVs stays a problem, nevertheless, and pressing motion have to be taken to assist patrons overcome affordability points and considerations about chargepoint provision.”
Sep 6, 2024