New Car Market Holds Steady
UK new car registrations rose by 0.5% year-on-year in October, according to the Society of Motor Manufacturers and Traders (SMMT).
The increase came despite a 1.5% decline in fleet registrations, with private registrations up by 2%. Business registrations rose by 32.7%, representing 2.5% of the overall market.
Fuel Mix
- EV registrations were up by 23.6%, for a 25.4% market share.
- Plug-in hybrids were up by 27.2%, taking 12.1% of the market.
- Conventional hybrids rose by 2.1% for a 13.3% market share.
- Petrol car registrations fell by 11.6%, taking 44% of the market.
The SMMT pointed out that the EV market share was still behind the 28% required by the UK Government’s ZEV mandate.
Author's summary: New car market steady despite fleet decline.
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