EV sales buoy growth in UK new-car market

London – The UK’s new-car market grew 28.3% year-on-year in July with 143,921 new vehicles registered, the Society of Motor Manufacturers and Traders (SMMT) reported.

The positive results reflected an easing of supply-chain disruptions and came despite “challenging economic conditions”, said SMMT 4 Aug.

THis, noted SMMT was the “best July performance since 2020”, when the market saw pent-up demand after three months of lockdown during the Covid pandemic.

Despite continuous growth, however, the overall market year-to-date remains well behind pre-pandemic levels of 1,426,443 units in 2019.

Electrific vehicles accounted for more than a third (35.4%) of the market, with SMMT reporting one registration per minute over the entire month.

Here, plug-in hybrid (PHEV) and battery electric (BEVs) saw the highest increases of 79.1% and 87.9% year-on-year, accounting for 8.1% and 16% of the market respectively.

Demand for battery electric cars was such that a new-vehicle was registered every 60 seconds in the month, SMMT said.

Furthermore, citing latest market outlook, SMMT said the trend will likely accelerate to one every 50 seconds by the end of the year, and up to one every 40 seconds by the end of 2024.

“The industry remains committed to meeting the UK’s zero emission deadlines and continues to make the investments to get us there,” said Mike Hawes, SMMT chief executive.

However, added Hawes, consumers must be given incentives to buy amid inflation and rising costs as well as the introduction of stricter vehicle-emission requirements.

“Government must pull every lever, therefore, to make buying, running and, especially, charging an EV affordable and practical for every driver,” he concluded.