The United Kingdom reported a 14% year-on-year increase in its passenger car registrations to 153,529 units in October. This notable registration growth enabled the year-to-date results to reach a total of 1,605,437 units, up 20% YoY, The Society of Motor Manufacturers and Traders (SMMT) data revealed.
What’s more interesting about the report is the rapid growth in plug-in electric car registrations in the same period.
“With demand for new cars surpassing pre-pandemic levels in the month, the market is defying expectations and driving growth. As fleet uptake flourishes, particularly for EVs, sustained success depends on encouraging all consumers to invest in the latest zero emission vehicles. The Autumn Statement is a key opportunity for government to introduce incentives and facilitate infrastructure investment. Doing so would send a clear signal of support for drivers, reassuring them that now is the time to switch to electric.”Mike Hawes, SMMT Chief Executive
Plug-in electric car registrations
SMMT data showed that new plug-in car registrations surged 33% YoY to 38,228 units. Likewise, its market share grew to 24.9% from just 21.5% in the same period last year.
This year to date, its registrations have already reached 375,762 units (up 35%).
Here are the plug-in car registrations’ data breakdown, as provided by InsideEVs:
The all-electric vehicles’ 20% YoY growth marks its 42nd straight monthly growth. However, its market share growth remains slow, from 14.8% in 2022 to 15.6% in October 2023.
In hindsight, new passenger plug-in car registrations registrations in the UK achieved a total of 368,000+ units in FY 2022. It accounted for a notable 22.8% of the overall market.
Unfortunately, the top 10 list for the most popular vehicles had no stand-alone BEV model in October 2023.
Refer to the data below:
|Ford Puma||4,824||Ford Puma||42,136|
|Vauxhall Corsa||3,464||Vauxhall Corsa||33,641|
|Volkswagen Polo||3,426||Kia Sportage||31,575|
|BMW 1 Series||3,424||Tesla Model Y||30,087|
|Kia Sportage||3,422||Hyundai Tucson||29,990|
|Peugeot 2008||3,145||Nissan Juke||27,253|
|Ford Kuga||2,948||Vauxhall Mokka||25,473|
|Volvo XC40||2,577||Audi A3||25,452|
SMMT raised its market outlook for overall new car registrations to 1.886 million by the end of 2023, indicating a 2.1% increase from July’s guidance. Meanwhile, it lowered its BEV forecast by -1.7% to 324,000 units with a 17.2% market share in the same period.