SMMT figures show EVs made up 14.5% share of new car sales in August

Battery electric vehicles (BEVs) made up a 14.5% market share of new car registrations in August, according to statistics released by the Society of Motor Manufacturers and Traders (SMMT).

Plug-in Hybrid (PHEV) registrations fell by -23.1% to comprise 5.6% of monthly registrations. As a result, plug-in vehicles accounted for one in five (20.2%) of August’s registrations. Hybrid electric vehicle registrations remained relatively stable, falling by -0.7%.

Overall, the UK’s new car market rose by 1.2% in August – ending five months of decline.

The growth, albeit marginal, is the first seen since February, with some 68,858 new vehicles joining the road during what is typically the second quietest month of the year as many buyers choose to wait for a ‘new’ numberplate in September.

Despite the growth, August volumes were still the weakest for the month, bar 2021, since 2013 as supply chain pressures continued to constrain the market. Large fleet registrations fell by -1.6%, although this was offset by a 3.2% increase in deliveries to private consumers. Business customers saw the largest increase of 26.6%, but the sector is small in volume and subject to volatility.

Mike Hawes, SMMT Chief Executive, said: “August’s new car market growth is welcome, but marginal during a low volume month. Spiralling energy costs and inflation on top of sustained supply chain challenges are piling even more pressure on the automotive industry’s post-pandemic recovery, and we urgently need the new Prime Minister to tackle these challenges and restore confidence and sustainable growth. With September traditionally a bumper time for new car uptake, the next month will be the true barometer of industry recovery as it accelerates the transition to zero emission mobility despite the myriad challenges.”

Image courtesy of Shutterstock.

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