UK Car Registrations Dip 1.3 per cent in August, EV Demand Rises
New car registrations in Britain fell slightly in August, industry data showed on Thursday, in line with expectations of a traditionally quieter month.
The Society of Motor Manufacturers and Traders (SMMT) said new car registrations fell about 1.3 per cent year-on-year to 84,575 units in August as many buyers prefer to wait until September’s new number plate.
Demand for battery electric vehicles (BEV) in the month rose 10.8 per cent as buyers took advantage of summer discounts.
SMMT expects the BEV market share to rise to 18.5 per cent from its current 17.2 per cent by the end of the year with a forecast of about 364,000 BEV registrations in 2024.
“Encouraging a mass market shift to EVs remains a challenge, however, and urgent action must be taken to help buyers overcome affordability issues and concerns about chargepoint provision,” SMMT chief Mike Hawes said in a statement.
Fleet purchases drove the market, accounting for six in 10 cars registered last month despite a 1.2 per cent drop compared with the same month last year. “We expect September to be a better indicator of where the market stands with the new registration plates set to be introduced and a number of attractive incentives and discounts likely to be offered,” Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said.
Source: Reuters
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