New car sales in the UK in February 2024 the best since 2004

New car registrations in the UK in February 2024 were the best for 20 years but were entirely driven by fleet purchases.

As the supply of new cars returns to normal after the supply chain upheavals of recent years, sales are rising and February 2024 is no different with 84,886 new cars sold, an increase of 14% over February 2023 and the highest February sales since 2004.

Of course, February sales in the UK are a bit of an odd one, with private buyers perhaps waiting for the plate change in March, but it’s clear from the figures that people spending their own money are running shy of grabbing a new car.

As we’ve seen in recent months, the increase in car sales is being entirely driven by fleet sales which rose by 25.2% over last February, whilst sales to private buyers fell by 2.6%.

Sales of cars with electrification – BEVs, PHEVs and Hybrids – continue to rise, with sales of BEVs up by 21.8%, PHEVs by 29.1% and Hybrids by 12.8%. Notably, more than 80% of BEV sales were to fleets.

Petrol-engined cars still make up the biggest market share with a 56.5% share, but diesel-engined cars now account for just 5.9% of sales.

Mike Hawes, SMMT CEO, said:

The new car market’s ability to deliver growth continues with its best February for 20 years and this week’s Budget is an opportunity to ensure that growth is greener. Tackling the triple tax barrier as the market embarks on its busiest month of the year would boost EV demand, cutting carbon emissions and energising the economy. It will deliver a faster and fairer zero emission transition, putting Britain’s EV ambition back in the fast lane.

Best sellers for February 2024 were the Ford Puma followed by the VW Golf, VW T-Roc, Kia Sportage and Audi A3.