The UK new automotive market rose 1.0% in September, to 275,239 models, in line with SMMT figures.
SMMT calculates that producers are heading in the right direction to spend a minimum of £2 billion on discounting EVs this yr.
Trade consultants have provided perspective in response to SMMT’s information launched at the moment.
Philip Nothard, Perception Director at Cox Automotive, stated: “September’s new automotive market was much less concerning the headline development and extra about the way it was achieved.
“EV gross sales surged as a consequence of unprecedented discounting, masking weak underlying demand, particularly amongst personal consumers.
“Fleet purchases drove the market, whereas personal demand dropped, reflecting ongoing monetary pressure from the Zero Emission Automobile (ZEV) mandate.
“The month’s results define how the year will end, with manufacturers and industry bodies calling for more support as the gap between EV targets and real consumer behaviour widens.”
“The 2024 figures are essentially set, but the focus shifts to the potential challenges in 2025. The market may face further disruption if current dynamics persist, including heavy reliance on discounts and weak private EV demand. Structural changes and more substantial incentives will be crucial to ensure sustainable growth moving forward.”
Lisa Watson, Director of Gross sales at Shut Brothers Motor Finance, stated: “September’s new plates have contributed to an extra rise in registrations. Nevertheless, fleet statistics proceed to skew electrical car (EV) information.
“We now have began to see a rise in reductions and worth reductions to attempt to increase exercise as shopper demand for EVs stalls, and extra consumers flip to the used market.
“Important obstacles, comparable to an absence of charging infrastructure, proceed to hamper progress in the direction of authorities targets, and we’ve got seen producers backtrack on their electrification plans and halt manufacturing because of this.
Ian Plummer, business director at Auto Dealer, stated: “Electrical car gross sales surged in September to assert a 20%-plus share of the market, in the important thing plate-change month for the business, nevertheless it nonetheless received’t be sufficient for a lot of producers to hit gross sales targets underneath the Zero Emissions Automobile mandate.
“File reductions are driving the curiosity as manufacturers and retailers do all they’ll to stimulate gross sales, displaying as soon as once more simply how delicate the market is to monetary incentives, and the significance of overcoming the present EV price barrier.
“These efforts are additionally mirrored within the strongest curiosity in new EVs on our platform for greater than two years, a very good signal that the remaining months of 2024 also needs to see robust new EV gross sales.
“That stated, there’s nonetheless a lot to do to drive additional ranges of curiosity and precise gross sales – and reductions can solely final so lengthy.
“Given affordability is such a key driver of buy, different measures are wanted to assist consumers make the swap to electrical vehicles which nonetheless carry a 30% worth premium over their ICE counterparts.
“More affordable EVs are hitting the market from both established and new brands alike, but we need to see further levels of support from Government if we’re to hit the new regulatory targets without inflicting significant damage to the industry.”
