UK Car Sales Set to Break Records in 2024
The UK is poised to have its best year for car sales since the start of the pandemic, with over a million cars registered in the first half of 2024. If this trend continues, the country could surpass two million registrations for the first time since 2019, when 2.3 million cars were registered. While the number of registrations in the first half of 2024 is 20.7% lower than 2019, it is a 6% increase compared to 2023.
Fleet Sales Driving Growth
The growth in car sales in recent months has been driven primarily by fleet sales, which saw a 14.2% increase. On the other hand, private sales have been on the decline for nine consecutive months, down 15.3% in June. Retail buyers accounted for less than 40% of new car registrations.
Electric Vehicle Market
The decline in private sales has been attributed to a challenging economic environment. SMMT chief Mike Hawes has called for support from the next government, particularly to accelerate the adoption of electric vehicles (EVs). In June, EV sales rose by 7.4% compared to May, but were outpaced by plug-in hybrids (up 33%) and hybrids (up 27.2%). Pure-electric cars recorded their highest monthly share of total registrations in 2024 so far, reaching 19%. However, this increase was driven by fleet sales, as private EV sales were down 10.8% compared to June 2023.
The Need for Government Support
Hawes emphasized the role of the next government in re-energizing the market and facilitating a faster transition to zero-emission vehicles. He stated that all parties agree on the need to reduce carbon emissions, and replacing older fossil-fuel-based technologies with electrified powertrains is crucial for achieving that goal. Despite the positive state of the new car market in 2024, Hawes acknowledges the challenges that lie ahead.
Insights from Autocar’s News Editor
Will, Autocar’s news editor, plays a crucial role in setting the news agenda and managing Autocar Business and Haymarket’s aftermarket publication CAT. With over eight years of experience, Will brings a wealth of knowledge to his role, which involves interviewing top executives, reporting from car launches, and uncovering exclusives.
Explore Used Cars for Sale
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Stay Up to Date with Autocar Magazine
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In conclusion, the UK’s car sales have shown promising growth in 2024, with the potential to break records. The increase in fleet sales and the need for government support in promoting electric vehicles are key trends to watch. With Autocar’s comprehensive coverage and listings, car enthusiasts can stay informed and find their dream car.
