New car registrations rose 5.4% to 152,730 units in October, the 11th consecutive month of growth after the strong number plate change September.1
Fleet registrations rose 5.4% to 89,985 units, accounting for 58.9% of the market, while private demand increased 4.1% to 58,229 units and a 38.1% share. Business registrations climbed 24.5% to 4,516 units.
Plug-in hybrid (PHEV) and battery electric (BEV) cars accounted for all the growth. PHEV registrations rose 30.1% to take a 15% market share.
BEV deliveries increased by 32.7% to secure 32% market share as carmakers pushed to hit the government’s ZEV Mandate target.
More than half a million (503,805) BEVs have been registered this year, up 30.4% on a year ago.
The SMMT urging government to make “substantive changes” to the targets, revising them down so they better reflect demand.
Mike Hawes, SMMT chief executive, renewed his call for the mandate to be heavily revised.
“The industry and government are spending billions to help drivers switch, but that support cannot be sustained indefinitely with the gap to mandated targets set to more than double by 2028, just as a new EV-only tax is introduced.
“Higher targets may force supply, but they do not create demand. The ZEV Mandate review must deliver substantive reform effective immediately to ensure we have a healthy market and an attractive pitch to investors.”
