EV Sales holding up automotive industry

“The increase in new vehicle sales in October demonstrates the resilience of franchised dealers and their ability to find the right deal for their customers and the importance of supply finally reaching forecourts”, 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’s new passenger car registration figures.

In October, a total of 134,344 new cars were registered, an increase 26.4 % from the same period last year. Sales to private buyers grew by 7.4%; fleet registrations were up by 47.4%.

Battery electric vehicles (BEVs) experienced moderate growth, up 23.4% to 19,933units. Plug-in hybrid (PHEVs) registrations grew by 6.2% to 8,899 units, and hybrids (HEVs) grew by 81.7% to 15,712 units. There are now 195,547 registered BEVs on the road in 2022 compared to the 141,296 at the same point last year, a [X]% increase.

With sales of electric growing, diesel fell from 7,028 units to 6,347 (-9.7%), and petrol has risen from 48,384 units to 56,994 units (17.8%).

Sue Robinson added: “The transition to electric vehicles, as evidenced by the continued increase in EV sales, will create opportunities for the motor retail sector. The UK Government must continue to act to support this transition and the wider UK automotive sector, one of the UK’s largest and most important industries.”