New ‘24’ plate boosts UK new car sales in March after “two tough years”
According to the SMMT, over 300,000 new cars have received the new ‘24’ registration plate so far, with new car sales up 10% year-on-year
If you hear a gust outside your window, it may be the sound of the UK’s car industry taking a unanimous sigh of relief, as the latest data from the SMMT (Society of Motor Manufacturers and traders) show new car sales were up 10 per cent in March compared to this time last year.
New car reg plate spotters won’t need too keen of an eye as there are already 317,786 cars on the road sporting the new ‘24’ numberplates, although total registrations still remain below pre-pandemic levels. In total, over 545,000 new cars have been registered so far in 2024.
The majority of this growth can be attributed to booming fleet sales, although the number of private sales fell 7 per cent year-on-year, no doubt due to the ongoing high levels of inflation and cost of living struggles.
However, while petrol and hybrid car sales are booming – they now occupy 56 per cent and 14 per cent of the market respectively – diesel and fully-electric car market share is slowly falling. Diesel cars now only account for 7.3 per cent of the UK’s car market. BEVs (battery electric vehicles) are seeing their highest-ever recorded sales (76,233 in March alone), but due to sky-high petrol and diesel registrations, market share fell this month by 1 per cent compared to last month – it’s slightly up since last year, though.
The best-selling model in March was none other than the Nissan Qashqai; no surprise, given Nissan’s petrol-hybrid family SUV was the UK’s overall best-seller in 2022 and runner-up in 2023. Almost 9,000 Qashqai examples made it onto our roads last month, with the Ford Puma only slightly behind with roughly 8,300. The Ford remains the UK’s best-seller year-to-date, however, while the title of the UK’s favourite electric car is still held by the Tesla Model Y, with as-near-as-makes-no-difference 5,600 units being sold in March, making it the ninth best-selling car overall.
Reacting to the latest figures, SMMT boss, Mike Hawes, said: “Market growth continues, fuelled by fleets investing after two tough years of constrained supply. A sluggish private market and shrinking EV market share, however, show the challenge ahead.
“Manufacturers are providing compelling offers, but they can’t single-handedly fund the transition indefinitely. Government support for private consumers would send a positive message and deliver a faster, fairer transition on time and on target.”
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