New car market up 28.3 per cent in July with one EV registered every minute
Some 143,921 cars were registered during the month.
The new car market swelled by 28.3 per cent in July, pushed upwards by a growing demand for electric vehicles.
In fact, figures from the Society of Motor Manufacturers and Traders (SMMT) show that one battery-powered vehicle was registered every 60 seconds as deliveries rose by 87.9 per cent. The SMMT expects one EV to be registered every 50 seconds by the end of 2023, and one every 40 seconds in 2024.
A total of 143,921 vehicles were delivered during the month, with Ford’s Puma topping the list as the most registered.
Despite representing the best July since 2020 when buyers were once again allowed to fully purchase vehicles following three months of lockdown, the overall market-to-date remains behind pre-pandemic levels.
Company registrations were a key player in the growth, with large fleet uptake rising by 61.9 per cent to a total of 80,961 units. Business registrations grew by 28.7 per cent to 2,915 vehicles, while private demand ‘remained stable’ at 60,054 vehicles – an increase of 0.3 per cent.
Mike Hawes, SMMT chief executive, said: “The industry remains committed to meeting the UK’s zero emission deadlines and continues to make the investments to get us there. Choice and innovation in the market are growing, so it’s encouraging to see more people switching on to the benefits of driving electric.”
