The UK’s new car market returned to growth in May, as registrations rose by 1.6%, according to the latest data published by the Society of Motor Manufacturers and Traders (SMMT). It was the best May performance since 2021, but still -18.3% lower than in pre-pandemic 2019 and only the second month of growth this year.
Fleets and businesses drove the growth, up 3.7% and 14.4% respectively and responsible for 62.6% of registrations. Interest from private buyers fell for the second consecutive month, down -2.3%. There were double-digit declines in deliveries of both petrol and diesel cars – down -12.5% and -15.5% – while demand for the latest electrified models increased dramatically to take a combined 47.3% market share.
Uptake of hybrid electric vehicles (HEVs) grew by 6.8%, while plug-in hybrid electric vehicles (PHEVs) were up more than half. Registrations of battery electric vehicles (BEVs) rose by 25.8%, accounting for 21.8% of the market as manufacturers continued to support sales with attractive incentives.
Meanwhile, the UK’s new light commercial vehicle (LCV) market fell by -11.8% in May, the lowest May performance since 2022 and the sixth consecutive month of decline.
Demand for battery electric vans (BEVs) continues to grow, up 50% in May – the seventh successive month of rising demand. Despite this, zero emission vans represented just 7.6% of the overall market in May, and 8.2% in the year to date.
