New car registrations in the UK plummeted to around 137,000 units in January 2024, marking a small decline from the previous year. The Society of Motor Manufacturers and Traders reported more than 20% of these were electric vehicles. Although it represents a tough start to the year, interest in electric cars is rising, which is hopeful for meeting the UK’s ban on petrol and diesel cars by 2035. Industry experts anticipate challenges from economic uncertainties and competition but see a surge in visits to new car platforms, suggesting possible recovery ahead.
January marked a lacklustre start to 2025 for the new car market, as registrations fell for the fourth month in a row due to slow demand.
The Society of Motor Manufacturers and Traders reported that overall registrations fell to approximately 137,000 units in January 2024, with over a fifth being electric vehicles.
Visits to the new car platform increased over 20% following the festive lull, indicating potential recovery in the market despite economic uncertainties.
Ian Plummer notes an increase in interest in electric cars which could help the UK achieve its target of banning petrol and diesel car sales by 2035.
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