New car sales set to near two million next year
New figures predict that new car sales in the UK will rise two per cent next year to about 1.98 million units.
According to Auto Trader analysis, sales will increase from 1.94 million this year to just under two million in 2025.
But while this would be the fourth consecutive year of growth, the new car market is expected to remain 14% below the 2.31 million new car registrations recorded in pre-pandemic 2019.
Meanwhile, it predicts that electric vehicle sales will increase to 23%, which is a long way behind the 28% stipulated by the ZEV Mandate.
In terms of used car sales, Auto Trader expects the second-hand market to maintain the strong growth momentum of the last two years and rise from 7.61 million sales this year to around 7.7 million sales next year, taking it to just three per cent of pre-pandemic figures.
Commercial director Ian Plummer said: “It’s been another landmark year for automotive retailing, one that’s included a range of challenges, not least the introduction of ZEV targets, constrained supply, changing finance rules, and the budget, but also exceptionally strong used car demand, record levels of engagement on our platform, rapid speed of sale, and the stabilising of retail prices.
“And with the more attractively priced and available stock in recent months helping to fuel new car interest, the overall retail market is entering 2025 on a strong footing.”
He continued:
“2025 is set for growth, but this year’s complexities will remain, and in some cases tighten, particularly within the new car market, where a rapidly growing array of brands will be competing for the attention of an increasingly fickle new EV buyer.”
