The UK market breaks the million new car registrations mark at the half-year point. This is the first time it has happened since 2019.
In June 2024, the new car market grew only 1.1%, with a total of 179,263 units registered. Growth was primarily driven by fleet registrations, while demand from private buyers has been down for the ninth consecutive month.
The year’s midpoint sees the new car market in its best state since 2021 – but this belies the bigger challenge ahead. The private consumer market continues to shrink against a difficult economic backdrop, but with the right policies in place, the next government can re-energise the market and deliver a faster, fairer zero emission transition. All parties are agreed on the need to cut carbon and replacing older fossil fuel based technologies with new electrified powertrains is the essential step to achieving that goal.
Said Mike Hawes, SMMT Chief Executive.
Figures from the SMMT.
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