New car registrations in the UK in March 2024 were the best since 2019, with a 10.4% rise in registrations to 317,786.
That said, the figures are still down by a chunky 30.6% on pre-Covid levels, with 317,786 cars registered – a rise of 10.4% on March 2023.
But it’s still not private buyers buying new cars – purchases by private buyers fell by 7.7% – but Fleet purchases which rose by 29.6% and were fully responsible for the rise.
Petrol-engined cars remain the most popular option with a market share of 55.7% – up 9.2% year-on-year – with diesel-engined cars continuing their decline with a 2.7% reduction and a market share of just 7.3%.
On the electrified front, HEVs saw a rise of 19.6% in sales for a market share of 14%, and PHEVs jumping by 36.7% for a market share of 7.7%.
As you’d expect BEVs also sold more – thanks entirely to Fleet sales – with 48,388 sold for a market share of 15.2%. But despite the best efforts of Fleet buyers to buy EVs for the tax breaks, the rise in the numbers of EV registrations masked the fact that their market share actually dropped to 15.2%.
Mike Hawes, SMMT CEO, said:
Market growth continues, fuelled by fleets investing after two tough years of constrained supply. A sluggish private market and shrinking EV market share, however, show the challenge ahead. Manufacturers are providing compelling offers, but they can’t single-handedly fund the transition indefinitely. Government support for private consumers – not just business and fleets – would send a positive message and deliver a faster, fairer transition on time and on target.
Top sellers for the month were led by the Nissan Qashqai, followed by the Ford Puma, Kia Sportage and Nissan Juke
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