New Car Registrations UP by 9.5% in November – but EV registrations DOWN 17.1%

New car registrations in November 2023 in the UK rose by 9,5 per cent to 156,525, but EV registrations dropped by 17.1 per cent.

New car registrations have been growing for most of this year as the car industry manages to address supply chain issues and energy costs, and November was no different.

In fact, new car registrations in the UK in November 2023 were within a smidge of November 2019 – pre-Covid – at 156,525, just 96 units shy of the November 2019 figure.

That’s despite the big rise in interest rates in the interim period, although new car prices are now softening with discounts widely available, and used cars are starting to revert to more sensible levels as supply is now probably greater than demand.

But interest rates and economic pressures are weighing down private new car registrations, with private registrations falling by 5.9 per cent whilst fleet registrations rose by 25.4 per cent.

Sales of petrol-engined cars were up by 7.4 per cent, with diesel-engined cars continuing their decline with a drop of 16.8 per cent, but PHEV numbers were up by 55.8 per cent and HEVs by 27.8 per cent. Registrations of EVs fell by 17.1 per cent.

The top new car registration saw the Ford Puma as the best-seller followed by the Vauxhall Corsa and Nissan Qashqai, broadly in line with year-to-date numbers.

Mike Hawes, SMMT boss, said:

Britain’s new car market continues to recover, fuelled by fleets investing in the latest and greenest new vehicles. With car makers gearing up to meet their responsibilities under new market legislation, and COP28 currently underway, now is the time to take sensible steps that will multiply that economic growth and minimise carbon emissions. Private EV buyers need incentives in line with those that have so successfully driven business uptake – and workable trade rules that promote rather than penalise the transition.