New car registrations fall – London Business News | Londonlovesbusiness.com

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Latest figures by the Society of Motor Manufacturers and Traders (SMMT) shows that new car registrations fell by 1.0% in February to 84,054.

The fall was driven by a fall in deliveries of petrol cars by 17.3% and for pure electric care there was a 41.7% increase.

SMMT chief executive Mike Hawes said: “Although February’s figures show a subdued overall market, the good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support.

“It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February.

“With the all-important March number plate change now upon us, and tax changes taking effect in April that will, perversely, dissuade EV purchases, we expect significant demand for these new products next month.

“But, long term, EV consumers need carrots, not ever more sticks.”

Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: “February was a strong month for new private car sales compared to 2024 – a positive sign of rising consumer demand as we enter the key plate change month of March, despite the slight drop in the new car market overall.

“The jump in electric sales is also encouraging, but we’re still well behind the growth we need to see at this stage in the transition and hit the Government’s 28% target on EV sales.

“The industry is working hard to bridge the price gap between new EVs and traditional cars, but when new electric cars are 24% dearer it is still a challenge for many buyers.

“We need more support to boost demand.”



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