"In February, new car registrations reached 90,100, marking the best performance for the month in 22 years and the highest volume for February since 2004. The 7.2% year-on-year increase reflects a recovery in consumer confidence, with much of this momentum driven by private retail buyers returning to showrooms after a period of cautious spending."
"The market share for battery EVs fell to 24.2%, down from 25.3% a year earlier, marking a second consecutive month of decline. Industry analysts suggest this trend reflects front-loaded demand from early 2025, when some consumers bought vehicles ahead of upcoming changes to vehicle taxation policy."
"Plug-in hybrid vehicles stood out, with registrations surging 43.5%, suggesting buyers may prefer transitional technologies due to concerns about charging infrastructure, battery costs, and residual values."
UK automotive sales reached 90,100 registrations in February, the strongest performance for the month in 22 years, driven by returning private retail buyers and a 7.2% year-on-year increase. Fleet demand remained dominant at nearly three-fifths of total sales with 1.8% growth. However, battery electric vehicle market share declined to 24.2% from 25.3% year-over-year, marking a second consecutive monthly decline despite a 2.8% absolute increase in EV registrations. Petrol car registrations rose 5.2%, while diesel fell 3.8%. Plug-in hybrid vehicles surged 43.5%, suggesting consumers prefer transitional technologies due to concerns about charging infrastructure, battery costs, and residual values. Industry leaders emphasize policy stability is essential for maintaining momentum toward net-zero transport targets.
#electric-vehicle-transition #uk-automotive-sales #market-share-decline #consumer-confidence #alternative-powertrains
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]