The UK new car market grew by 24.4% in August, largely thanks to continuing strong demand from the fleet sector.
Figures from the Society of Motor Manufacturers and Traders (SMMT) show that fleet registrations were up by 58.4% year-on-year in August – particularly impressive given the market in August 2022 was fairly stable.
Business registrations – classed as those to fleets with fewer than 25 vehicles – also saw 39.4% growth, though these only accounted for 1.9% of the overall market, compared with 60.7% for larger fleets.
Private sales saw an 8.1% decline in August, for a 37.4% market share.
Reflecting the fleet-heavy market split, last month was also a strong one for electrified powertrain sales, with pure EV registrations up by 72.3% year-on-year for a 20.1% market share, and plug-in hybrids up by 70% to take 7.7% of the market.
Conventional hybrids were up by 6.8% for a 10% market share, while petrol mild hybrids saw 55.3% growth for a 15.1% share, although diesel mild hybrids were down by 23.7% for a 2.2% share.
Pure petrol car registrations rose by 9.8% to take 40.6% of the market, while diesels were down by 18.1% for a 4.3% market share.
August’s overall market growth represents 13 consecutive months of increases.
SMMT chief executive Mike Hawes said: “With the automotive industry beginning a second year of growth, recovery is underway with EVs energising the market. But with a new Zero Emission Vehicle Mandate due to come into force in less than 120 days, manufacturers still await the details.
“Businesses cannot plan on the basis of consultations, they need certainty. And now, more than ever, government must match action to ambition, ensuring there are the incentives and infrastructure in place to convince drivers to make the switch.”
