The UK new car market fell by six per cent in October to 144,288 new registrations, according to the the Society of Motor Manufacturers and Traders.
Fleet sales fell for the second time this year, down 1.7%, while private purchases continued their two-year long wane with a further 11.8% decrease in the month. That means that so far this year just 38.8% of new cars sales have gone directly to private buyers.
Petrol and diesel deliveries fell by 14.2% and 20.5% respectively, while hybrids and plug-in hybrids were down by 1.6% and 3.2%.
However, pure electrics enjoyed their strongest growth of the year, with a raft of new models driving growth of 24.5% to reach a 20.7% share of the market.
Almost 300,000 new BEVs have now been sold in 2024, which represents 18.1% of the market – an increase on 2023, but still significantly short of the 22% target for this year and of the 28% which must be achieved in 2025 according to the ZEV Mandate.
New car market
Mike Hawes, SMMT chief executive, said: “Massive manufacturer investment in model choice and market support is helping make the UK the second largest EV market in Europe. That transition, however, must not perversely slow down the reduction of carbon emissions from road transport.
“Fleet renewal across the market remains the quickest way to decarbonise, so diminishing overall uptake is not good news for the economy, for investment or for the environment. EVs already work for many people and businesses, but to shift the entire market at the pace demanded requires significant intervention on incentives, infrastructure and regulation.”
