- New car registrations in the UK increased by 11.7 per cent in July, marking the eighth consecutive month of growth, with a total of 156,571 vehicles registered according to the Society of Motor Manufacturers and Traders (SMMT).
- Demand for electric vehicles (EVs) was a significant driver of this growth, rising by 44.5 per cent to 43,106 cars, now accounting for 14.9 per cent of the car market, while plug-in hybrids also saw a 33.6 per cent increase.
- Conversely, registrations for diesel and petrol cars experienced declines, dropping by 5.2 per cent and 17.7 per cent respectively during the same period.
- Growth was observed across all car buying sectors, with private buyer uptake increasing by 12.6 per cent and fleet deliveries rising by 9.5 per cent, representing six in ten registrations.
- The SMMT forecasts that electric vehicles will achieve a 27.4 per cent market share by the end of the year, though chief executive Mike Hawes expressed concerns that manufacturers are facing financial strain from EV discounts, which could jeopardise future investment and viability despite the industry's commitment to decarbonisation.
