In July, the UK’s new car market saw remarkable growth, with one new battery electric vehicle (BEV) being registered every 60 seconds.
According to the Society of Motor Manufacturers and Traders (SMMT), registrations of new cars surged by 28.3% in comparison to the same month last year, marking the 12th consecutive month of year-on-year increase.
The continuous growth can be attributed, in part, to the easing of global supply shortages.
A Promising Market Share for Battery Electric Vehicles
Out of the total new car registrations in July, BEVs accounted for 16% of the market share.
The SMMT predicts that this figure will rise even further, reaching close to 23% throughout the next year.
Electrified vehicles, including hybrids, plug-in hybrids, and BEVs, together made up 35.4% of the market in total.
This July performance for new car sales is the best since 2020 when there was a spike in demand following three months of lockdown during the pandemic.
Road to Recovery: Continuous Growth Amidst Pandemic Impact
While the automotive industry in the UK has shown consistent growth since the pandemic’s peak, the overall market is still below pre-pandemic levels.
However, July’s positive figures indicate a significant step towards recovery for the sector.
Government Policy and the Future of Petrol and Diesel Cars
Prime Minister Rishi Sunak reaffirmed the government’s commitment to banning the sale of new petrol and diesel cars by 2030.
Despite mounting pressure from some MPs and peers to extend the deadline, the government maintains its stance on promoting zero-emission vehicles to mitigate environmental impacts.
The Industry’s Vision for a Sustainable Future
Mike Hawes, SMMT’s chief executive, expressed the automotive industry’s commitment to meeting the UK’s zero-emission deadlines.
He highlighted the growing range of choices and innovations in the market and emphasized the importance of incentivizing consumers to switch to electric vehicles.
With inflation and the rising cost of living, the government is urged to take measures to ensure that purchasing, operating, and charging an electric vehicle is both affordable and practical for all drivers across the country.
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