EVs surge despite dip in registrations
The UK new car market declined 4.4% in September, according to the Society of Motor Manufacturers and Traders (SMMT).
The sector recorded 328,041 new registrations in the month – the weakest September since the introduction of the dual number plate system in 1999 and some 15.8% lower than the 10-year average of around 390,000 units for the month.
Private registrations fell by 1.1% over the month. Demand from business was also muted, with around 10,000 fewer cars joining larger fleets, representing a 5.8% decline.
More encouragingly, battery electric and plug-in hybrid car uptake grew substantially to account for more than one in 10 registrations as new models continue to increase consumer choice. Demand for battery electric vehicles (BEVs) increased by 184.3% compared with September last year, with the month accounting for a third of all 2020’s BEV registrations.
With little realistic prospect of recovering the 615,000 registrations lost so far in 2020, the sector now expects an overall 30.6% market decline by the end of the year, equivalent to some £21.2bn in lost sales.
Mike Hawes, SMMT chief executive, said: “During a torrid year, the automotive industry has demonstrated incredible resilience, but this is not a recovery. Despite the boost of a new registration plate, new model introductions and attractive offers, this is still the poorest September since the two-plate system was introduced in 1999. Unless the pandemic is controlled and economy-wide consumer and business confidence rebuilt, the short-term future looks very challenging indeed.”
