New Car Registrations Up 1.7% in May, Battery EV Market Share Rises to 17.6%: SMMT Data

The UK automotive market is showing signs of recovery and growth, with new car registrations up by 1.7 per cent in May. This marks the 22nd consecutive month of growth, with a total of 1,47,678 new vehicles hitting the roads. While this is a positive sign for the industry, it is important to note that it is still down by -19.6 per cent from pre-pandemic levels in 2019.

One of the key drivers of this growth has been the increasing demand for electric vehicles (EVs). Battery EVs saw a significant rise in market share, reaching 17.6 per cent in May. This surge in demand for EVs comes at a time when diesel and petrol car deliveries are declining. Plug-in hybrids also saw a substantial increase in sales, gaining an eight per cent market share.

While the growth in EV registrations is a positive step towards a more sustainable future, it falls short of government-mandated targets. The Vehicle Emissions Trading Scheme requires that 22 per cent of all vehicles sold by each brand this year must produce zero emissions. To meet these targets, manufacturers need more support and incentives to invest in next-gen technology.

The Society of Motor Manufacturers and Traders (SMMT) emphasizes the importance of making schemes and registration benefits universally available to increase BEV registrations and accelerate the transition towards emission-free roads. By providing more support to manufacturers, we can pave the way for a zero-emission future and create a more sustainable automotive industry.

Overall, the latest data on new car registrations in the UK paints a promising picture of growth and transformation in the automotive sector. With the right support and incentives in place, we can work towards a greener and more sustainable future for the industry.