New Car Registrations UP in August – thanks to fleet registrations

New car registrations were up again in August 2023, with a big jump in fleet registrations and BEV and PHEV vehicles.

Things are sort of getting back to some sense of normality post-Covid and supply chain issues, and August 2023, traditionally a low-volume month pre-plate change, saw another significant rise.

The new car market grew by 24.4 per cent with 85,657 new vehicles registered in the month, although that figure is still 7.5 per cent down on pre-Covid 2019.

But private buyers shied away from the new car market with registrations falling by 8.1 per cent from already weak 2022 numbers, no doubt down to rising interest rates and the cost of living crisis.

But the fall in private buyers was made up – and then some – by fleet registrations, up by a whopping 58.4 per cent to 51,951.

That big jump in fleet registrations also drove a big jump in AFV registrations, with BEVs up by 72.3 per cent to take a 20.1 per cent market share, PHEVs by a similar 70 per cent and HEVs up by 6.8 per cent.

Unsurprisingly, diesel registration continued to fall and were down 18.2 per cent to just 3,647, but petrol-powered registrations rose by 9.8 per cent to 34,746 for a 40.6 per cent market share.

Mike Hawes, SMMT CEO, 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.