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The UK new car market rose by 7.2% in February to 90,100 registrations, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). The growth brings the highest February volume in 22 years, although the month is conventionally lower volume due to the March numberplate change.
Demand was largely driven by recovering private retail registrations, up 17.6% to 35,227 units, while fleet uptake grew by 1.8% and the lower-volume business segment declined by -12.7%. Fleets remained the largest source of new car registrations, accounting for 59.4% of the market.
Battery electric vehicle (BEV) uptake rose 2.8% to 21,840 units, representing 24.2% of the market. February was, however, the second consecutive month of decline in BEV market share compared with the same period last year.
Plug-in hybrids attracted the largest growth in demand, up 43.5% to claim an 11.6% market share, while hybrid electric registrations rose 3.3% to a 13.1% share. Petrol demand also grew, by 5.2% but share slipped to 46.5%, while diesel volumes continued to decline, down -3.8% to just 4.5% of the market.
Meanwhile, UK new light commercial vehicle (LCV) registrations rose by a modest 1.1% in February, with 14,641 vans, pickups and 4x4s joining the road. This was the second increase in three months following a 12-month stretch of decline, but February remains a small volume month, coming ahead of the March plate-change and typically accounting for just some 5% of annual volumes.
Growth in the month was driven primarily by the large van segment, with registrations of vans weighing 2.5–3.5 tonnes rising 7.6% to 10,719 units, accounting for nearly three quarters (73.2%) of all new vans registered during the month. Demand for vans in the 2.0–2.5 tonne segment also improved, up 16.9% to 2,477 units, while 4×4 registrations increased 64% to 269 units.
The pickup market fell -54.9% to just 813 units, reflecting the ongoing impact of last year’s fiscal changes to benefit-in-kind and capital allowance treatment of double cab pickups. Demand for smaller vans also declined, with the market for those weighing under 2.0 tonnes down -15% to 363 units.
Battery electric van registrations increased by 42.2% to 2,009 units, pushing their market share to 13.5%. Diesel continued to dominate, accounting for almost eight-in-10 registrations.
