The UK has now experienced two years of consistent new car market growth following July’s 2.5% rise, data from the Society of Motor Manufacturers and Traders has revealed. Like other months this year, July’s 147,517 deliveries were propped up by the 91,521 fleet sales, a rise of 13% in the same month in 2023. The 11.1% year-on-year decline in private sales means non-business deliveries now make up just 36.2% of the market.
the growing popularity of salary sacrifice purchasing will have contributed to this decline. Despite the decline, the private sale of EVs did increase, albeit by a marginal 0.9%; in total, just 17.2% of all 27,335 EV sales went into the private market, again showing the strong pull of Benefit-in-kind incentives. Overall, EVs were the second biggest riser topped only by mild-hybrid vehicles . Plug-in hybrid vehicles also recorded a 12.4% rise to 13,149. The drop 5.
says. Despite the decline, the powertrain still makes up 52.1% of the market. chief Mike Hawes said:” Two years of new car market growth against a backdrop of a turbulent economy is testament to the sector’s resilience and the attractiveness of the deals on offer.” He used the figures to again call for market support from the new government: “Weakening private retail demand, however, particularly for EVs and despite generous manufacturer discounts, is the overriding concern.
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