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The UK new car market remained stable in August, down -1.3%, according to the Society of Motor Manufacturers and Traders (SMMT).
84,575 units were registered, 1,082 fewer than in the same month last year. Fleet purchases accounted for six in 10 cars registered (51,329 units). Registrations by private buyers were up 0.2% units to 32,110. Business registrations were down by -30.3% to 1,136 units.
Petrol and diesel uptake fell by -10.1% and -7.3% respectively, but represented 56.8% of all new car uptake in August. PHEV registrations declined -12.3%, with a 6.8% share, but HEV uptake increased, by 36.1%, to take 13.8% of the market.
BEV registrations rose 10.8% because of heavy discounting by manufacturers over the summer and a raft of new models. Market share reached 22.6%, the highest for a month since December 2022.
The BEV market share has increase to 17.2% and is expected to rise to 18.5% by the end of the year. However, this will still be less than the 22% required by the ZEV Mandate.
Mike Hawes, SMMT Chief Executive, said: “August’s EV growth is welcome, but it’s always a very low volume month and so subject to distortions ahead of September’s number plate change.
“The introduction of the new 74 plate, together with a raft of compelling offers and discounts from manufacturers, plus growing model choice, will help increase purchase consideration and be a true barometer for market demand.
“Encouraging a mass market shift to EVs remains a challenge, however, and urgent action must be taken to help buyers overcome affordability issues and concerns about chargepoint provision.
Ian Plummer, Commercial Director of Auto Trader, added: “As we approach the end of the first year of the government’s ZEV Mandate, we’re cautiously hopeful that this growth in EV interest will translate into higher sales although the current market share still remains below the 22% required by the ZEV rules.
“In order to ensure this is a fair and successful transition we need confidence in the existing support for the new car market, financial incentives to make used EVs affordable for all, transparency about future changes in road pricing and taxes as well as full support for the charging industry to speed up installation.”