BEVs have best September registrations on record
The UK new car market rose in the key plate change month of September with battery-electric vehicles (BEV) up almost a quarter year-on-year, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
Overall the market performance was the best since 2020 with 275,239 units. Demand for the latest BEV hit a new record volume for any month in September, up 24.4% to 56,387 units, achieving a 20.5% share of the overall market, which is significantly up from 16.6% a year ago. It is now expected to hit around 18.5% of the whole market by the end of the year.
Growth in registrations was driven by fleet purchases, which have increased by 3.7% to 149,095 units, and representing 54.2% of the overall market. In terms of BEVs, deliveries rose 36.8% for fleet, and were 75.9% of total registrations of the vehicle type.
Private consumer demand fell slightly, by 1.8% to 120,272 units, accounting for 43.7% of registrations, while the smaller business sector saw volumes fall more dramatically by more than 8% to 5,872 units.
Uptake of plug-in hybrids (PHEV) grew faster than any other fuel type in the month, up 32.1% to take an 8.9% share of the market. Hybrid electric vehicle (HEV) registrations rose 2.6%, boosting market share to 14.2%.
There was also a continued large-scale decline of ICE, which feel just short of double digits to a decline of 9.3% for petrol and 7.1% for diesel. The fuel types are now only 56.4% of the market total, having been 85-90% just five years ago.
Although new private BEV demand is down year-on-year in terms of new registrations, it comes at a time that the used EV segment is maturing and growing, by more than 50% according to figures from the SMMT.
In attempts to accelerate the transition to EVs even further, the SMMT and 12 OEMs have written to the Chancellor the Exchequer ahead of the autumn Budget to call for having VAT on new EVs, scrapping the VED ‘expensive car’ tax supplement for ZEVs, equalising VAT on public charging to match the 5% domestic charging rate, and maintaining the Benefit in Kind rules for company cars and the Plug-in Van Grant.
Mike Hawes, SMMT Chief Executive, said the EV registrations were “good news” but more could be done to assist the sector.
Hawes said:
“While we appreciate the pressures on the public purse, the Chancellor must use the forthcoming Budget to introduce bold measures on consumer support and infrastructure to get the transition back on track, and with it the economic growth and environmental benefits we all crave.”
Image from Shutterstock
