The new car market benefitted from a 12.4% boost in March as uptake rose to 357,103 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). It represents the best March performance since 2019.
Fleet registrations rose 11.5%, while business buyers decreased by a marginal -0.3%. There was also a recovery in private buyer uptake, with a 14.5% rise in registrations.
All types of electrified vehicles recorded growth in the month, with hybrid electric vehicles (HEVs) up 27.7%, plug-in hybrids (PHEVs) up 37.9%, and battery electric vehicles (BEVs) up 43.2%. As a result, March became the largest month ever for registrations of electric cars, with 69,313 reaching the roads.
As well as being a traditionally popular ‘new-plate’ month, March was also the final month before a range of increases were introduced to vehicle excise duty. Members can remind themselves of the changes via the Navigating New Vehicle Tax and Testing resource.
Meanwhile, UK deliveries of new light commercial vehicles (LCVs) dipped by -3.2% in March. The decline, while compared with a particularly strong March last year, was the fourth consecutive monthly fall in new LCV market activity.
More positively, demand for new battery electric vans (BEVs) weighing up to 4.25 tonnes grew for the sixth month in a row, up 40.3% to 4,215 units – a new monthly high.
