New car registrations rise for 21st consecutive month in April

Growth remained driven largely by fleet buyers.

Previously unissued photo dated 29/1/2024 of Chinese made BYD passenger battery electric vehicles and plug-in hybrid electric vehicles collectively known as new energy vehicles in China in a compound in Sheerness, Kent. Issue date: Thursday April 4, 2024. (PA Wire)

New car registrations grew by a record 21st consecutive month in April, according to new figures released by the Society of Motor Manufacturers and Traders (SMMT).

Registrations increased by just one per cent in the month, making it the best April for new car registrations since April 2021 – though numbers still lag behind the pre-pandemic uptake by 16.6 per cent.

Overall, 134,274 vehicles were registered during April.

As has been the case with previous months, much of this growth has been driven by the fleet sector which saw an increase of 18.5 per cent during April, while private buyer uptake sank by 17.7 per cent to 50,458 units. Business registrations also declined by 16.1 per cent to 2,609.

The SMMT called April a ‘brighter’ month for electric vehicle registrations, which grew by 10.7 per cent and increased EV market share to 16.9 per cent, up considerably on the 15.4 per cent it occupied in April 2023. Plug-in hybrids recorded the strongest growth of all the ‘electrified’ vehicles with registrations increasing by 22.1 per cent, while demand for regular hybrids grew by 16.7 per cent.

However, with fewer than one-in-six new electric vehicles heading to private buyers, the SMMT says that ‘urgent’ action is required to promote EVs to consumers.

Mike Hawes, SMMT Chief Executive, said: “The new car market continues to grow even in the quieter months, driven primarily by fleet demand. This is particularly true of the electric vehicle sector, where the absence of government incentives for private buyers is having a marked effect.

“Although attractive deals on EVs are in place, manufacturers cannot fund the mass market transition single-handedly. Temporarily cutting VAT, treating EVs as fiscally mainstream not luxury vehicles, and taking steps to instil consumer confidence in the chargepoint network will drive the market growth on which Britain’s net zero ambition depends.”