UK new car registrations in March increased by 18.2% to deliver the best ‘new plate month’ performance since before the pandemic, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
The increase saw 287,825 units delivered, the eighth consecutive month of growth for the new car market, as supply chain challenges slowly ease. As a result, the first quarter of 2023 is the strongest since 2019, with just under half a million new cars joining the road.
Registrations rose across all sales types, with deliveries to private buyers up by 1.4%, and those to businesses with fleets of fewer than 25 vehicles up 26.0%. Large fleets, however, were the predominant drivers of March’s growth, with registrations rising by 40,651 units, a 40.9% increase to take an overall 48.6% market share.
Battery electric vehicle (BEV) deliveries reached a record monthly high of 46,626, representing growth of 18.6%. The biggest growth, however, was in hybrids (HEVs), with a 34.3% surge helping electrified vehicles account for more than one in three registrations for the month.
Meanwhile, the UK new light commercial vehicle (LCV) market grew for the third consecutive month in March, rising by 17.3% to 47,634 units. 87,272 light commercial vehicles were registered in the first quarter of 2023, up 17.4% against Q1 last year.
Deliveries of battery electric vans continued to grow, up by 32.7% as an increasing choice of models makes switching to zero emission vehicles more compelling.
