“Q2 of 2024 builds on the momentum shown in the previous quarter and April marks a twenty first consecutive month of growth in the new car market” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT new car registration figures.
In April, a total of 134,274 new cars were registered, an increase of 1.0% from the same period last year. Sales to private buyers decreased by -17.7%; fleet registrations were up by 18.5%.
Battery electric vehicles (BEVs) experienced an increase, up 10.7% to 22,717 units. Plug-in hybrid (PHEVs) registrations increased by 22.1% to 10,493 units, and hybrids (HEVs) followed with growth of 16.7% to 17,538 units. There are 107,031 registered BEVs on the road in 2024 compared to the 96,755 units at the same point last year, a 10.6% increase.
With sales of electric growing, diesel fell from 11,572 units to 8,649 units (-25.3%), and notably petrol also fell from 77,275 units to 74,877 units (-3.1%).
Sue Robinson concluded, “electric vehicle sales continue to demonstrate moderate growth, but fleet remains the driving force behind new car registrations, with private demand languishing in recent months.
“Whilst the automotive sector has demonstrated its robustness this year and is showcasing signs of returning to pre-pandemic levels, there are still issues which need to be addressed. Namely, year to date electric vehicle market share remains only 0.3% higher when compared to the same point last year. With the Government disappointingly ruling out introducing price incentives for electric vehicles last month, NFDA calls on the Government to have an urgent rethink, particularly as many OEMs seek to meet ZEV mandate targets for this year and with private demand having declined in recent months.”
