UK eyes 1.9 million new car sales this year - industry body
Business
UK eyes 1.9 million new car sales this year - industry body
(Reuters) - New car sales in Britain are now expected to touch 1.89 million by the end of the year, 2.1% higher than the previous outlook, an industry body said on Monday, as monthly registrations rose over 14% from a year ago in October.
The Society of Motor Manufacturers and Traders (SMMT) also raised the sales outlook for 2024 by 1% to 1.97 million new cars.
New car sales rose 14.3% to 153,529 cars in October from a year ago, 7.2% above pre-pandemic levels, final data from SMMT showed, driven by large fleet sales, which were up almost 29%.
Demand for electrified vehicles (EVs) remained robust in October, accounting for 37.6% of all new car registrations.
"As fleet uptake flourishes, particularly for EVs, sustained success depends on encouraging all consumers to invest in the latest zero-emission vehicles," said SMMT Chief Executive Mike Hawes.
In the battery electric vehicle (BEV) market, however, private sales accounted for less than one in every four registrations, underscoring the need for fiscal incentives for customers.
Hawes said that this was a key opportunity for the government to introduce incentives and facilitate infrastructure investment.
"Doing so would send a clear signal of support for drivers, reassuring them that now is the time to switch to electric," he said.
Britain in late September stuck to its timetable to phase out cars that burn fossil fuels by 2035, limiting industry impact from Prime Minister Rishi Sunak's plan for a five-year delay to stop sales of new petrol cars.
