Strong start to 2024 for car sales

New car registrations grew for the 18^th month in a row in January, rising 8.2% to 142,876 units.

The Society of Motor Manufacturers and Traders has also reported that the month saw the one millionth electric vehicle sold in the UK, with 20,935 BEVs registered, a rise of 21%, taking the overall total since records began to 1,001,677.

Meanwhile, the BEV market share also grew year on year to 14.7%, with plug-in hybrids up 31.1% and hybrids down 1.2% to a 13.1% market share.

SMMT data also found that UK new van registration volumes rose 8.4% to 23,962 units in the best January for three years, with the market growing for 13th consecutive month.

Mike Hawes, SMMT Chief Executive, said, “It’s taken just over 20 years to reach our million EV milestone – but with the right policies, we can double down on that success in just another two. Market growth is currently dependent on businesses and fleets. Government must therefore use the upcoming Budget to support private EV buyers, temporarily halving VAT to cut carbon, drive economic growth and help everyone make the switch. Manufacturers have been asked to supply the vehicles, we now ask government to help consumers buy the vehicles on which net zero depends.”