August new vehicle registrations were stable ahead of the anticipated September uplift with the biannual plate change. While the overall market was down 1.3% year on year, demand for Battery Electric Vehicles (BEV) was up 10.8%, according to the latest figures from the SMMT.
The growth in BEV has been attributed to heavy discounting from manufacturers through the summer, supported by further new vehicle launches. BEV market share for August reached 22.6%, pushing its share of the 2024 market to date to 17.2%.
Fleet registrations continue to drive the new market, accounting for three-in-five registrations (60.7% in August, 60% YTD).
Petrol and diesel registrations, combined, still account for over 60% of total registrations, but both are down year on year. Petrol uptake in August fell 10.1%, while diesel was down 7.3% year on year. Plug-in hybrids (PHEVs) declined 12.3%, with hybrid electric vehicles (HEVs) going the opposite direction by recording 36.1% growth.
Fuel split of new registrations (year to date) is as follows:
Petrol: 54.4%
BEV: 17.2%
HEV: 13.8%
PHEV: 8.1%
Diesel: 6.5%
The full data is available on the SMMT website.
