- UK’s new car market sees 22 months of growth, with 147,678 new cars registered in May.
- Electric vehicles lead the charge, with BEVs up 6.2% and PHEVs up 31.5%.
- NFDA emphasizes the need for government support to boost private demand for EVs.
EVs continue to make an impact on the UK’s new car market, as they hit 22 months of consecutive growth
Electric vehicles (EVs) charge ahead in the UK car market, marking 22 consecutive months of growth. The NFDA’s May’s figures reveal 147,678 new cars hitting the streets, up 1.7% from last year. While private purchases decelerated by 12.9%, fleet registrations surged by an impressive 14.0%.
The real buzz surrounds EVs. Battery electric vehicles (BEVs) ramped up with a 6.2% surge, boasting 26,031 units, while plug-in hybrids (PHEVs) roared ahead by 31.5%, totalling 11,866 units. Hybrids (HEVs) kept up, accelerating by 9.6% to 19,503 units.
A hefty 133,062 BEVs now roam the streets, a 9.7% jump from last year’s 121,268 units. This shift is reshaping the market, with diesel sales sputtering by 16.7% and petrol by 2.1%.
Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), commented:
“The new electric vehicle market has also seen another month of moderate growth. As has been the trend throughout 2024, fleet continues to be the main driver for new car registrations. A key focus for the next government will be a need to incentivise private demand.
Whilst the new car market has shown remarkable resilience this year, there remains a lot to think about for the political parties during this build-up to the General Election. Yesterday, NFDA released its General Election manifesto which lists seven key ‘asks’ outlining a vision for the future of automotive retail and the wider industry, including on issues such as the Apprenticeship Levy and Business Rates.
NFDA will continue to monitor developments during the election trail for its members and it is essential that the next government works with the sector and offers robust support on key issues.”
We’re awaiting party manifestos before we judge EV policies heading towards the election. However, EVs and the climate in general have played a relatively small role in the political discourse thus far. With EVs zooming ahead and reshaping the market, the next government’s stance will be a make-or-break for the industry’s trajectory.
