UK car market up 15% in February

United kingdom new vehicle registrations rose by 15.% year-on-12 months in February, according to market knowledge issued by the SMMT. Even so, the rise was in comparison with the exact same month in 2021, when the pandemic shut auto showrooms across the United kingdom. Inspite of this constructive effectiveness, registrations are down 25.9% on pre-pandemic amounts, as vehicle offer stays constrained by semiconductor shortages.

Compared with February 2021, when showrooms ended up closed and only ‘click and collect’ permitted, non-public registrations rose by 30.%. Significant fleet registrations remained secure, up just 2.%, indicating that in a offer-constrained market place, makers are also prioritising non-public clients, which accounted for much more than 80% of growth. While enterprise purchases grew by 110.7%, this equates to a rise of just 693 models.

It was yet another bumper thirty day period for battery electric powered motor vehicles (BEVs), having said that, which took a 17.7% market place share to access 10,417 units, even though registrations of plug-in hybrids (PHEVs) rose to 4,677 models and a 7.9% share of the sector. When merged with hybrid (HEV) registrations (6,883), electrified vehicles accounted for additional than a third of all new autos leaving dealerships. When this demonstrates the escalating desire for electric autos, February is commonly the least expensive volume thirty day period, as lots of customers delay buys until finally the ‘new plate’ thirty day period of March, and fluctuations in offer for some crucial styles can have a much more pronounced outcome in phrases of market place share.

The SMMT also famous the will need for accelerated public chargepoint provision. Investments are remaining manufactured, but at a tempo that carries on to lag at the rear of plug-in car or truck uptake, it claims.

April will see the effective finish of the Electric powered Auto Homecharge Scheme (EVHS), which has presented very important funding for property owners to set up their possess chargepoints.

Forward of the government’s Spring (Spending budget) Assertion, SMMT is calling for an extension to the two the EVHS and its organization counterpart, the Place of work Charging Plan, outside of 2025 to ensure EV uptake stays on track to fulfill Government’s net zero deadlines. It also suggests that VAT on electrical energy utilised for general public charging points be cut to match that for dwelling use, so that EV drivers are treated equally no matter of where they cost their motor vehicle.

Mike Hawes, SMMT Main Government, stated: “Despite February’s common minimal registration quantities, people are switching to EVs in ever-growing quantities. Much more than ever, infrastructure investment decision needs to speed up to match this progress. Governing administration should use its future Spring Assertion to permit this transition, continuing assist for dwelling and workplace charging, boosting community chargepoint rollout to tackle charging anxiousness and, presented the huge raise in power prices, reducing VAT on community charging points. This will energise the two consumer and enterprise assurance and accelerate our swap to zero emission mobility.”