NOVEMBER SEES SECOND CONSECUTIVE CONTRACTION IN NEW CAR MARKET, EVS SEE 58.4% GROWTH

“November sees another month of decline in the new car market, marking the first instance of consecutive monthly contractions this year” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT new car registration figures.

In November, a total of 153,610 new cars were registered, a decrease of -1.9% from the same period last year. Sales to private buyers were down by -3.3%; fleet registrations were also down by -1.1%.

Despite this, battery electric vehicles (BEVs) continue to experience a sizeable increase, up 58.4% to 38,581 units. Plug-in hybrid (PHEVs) registrations contracted slightly by -1.2% to 15,687 units, and hybrids (HEVs) also contracted by -3.6% to 19,591 units. In 2024, 338,314 new BEVs have been registered so far, compared to 286,846 units at the same point last year, representing a 17.9% increase.

With sales of electric growing, diesel fell from 10,495 units to 9,434 units (-10.1%), and notably petrol also saw a drop from 85,479 units to 70,317 units (-17.7%).

Sue Robinson concluded, “For the second month in a row, both fleet and private demand has also seen a downturn.

“A positive note saw BEVs continue their strong performance and grow by 58.4%, seeing its market share rise to 18.7% year-to date. NFDA welcomed last week’s Government announcement on the ZEV mandate consultation and will keep members updated on future developments.

“With the year coming to an end, it is vital for the Government to work closely with the NFDA and the broader industry to address concerning trends of contraction in the new car market.

“NFDA looks forward to working with the new Transport Secretary to address many of these challenges as we move toward 2025.”