Electrification growth boosts new car sales in August
The new car market grew 24.4 per cent in August with 85,657 new vehicles registered, according to the latest SMMT figures. While August is typically a quieter month with many buyers choosing to wait until the September number plate change, an increase of 16,799 units means the sector is now entering a second year of growth. Despite this improved performance, the market still remains -7.5 per cent below pre-pandemic levels. The increase was fuelled by a surge in registrations by large fleets, rising 58.4 per cent to 51,951 units, while business registrations grew 39.4 per cent to 1,635 units. Conversely, private demand softened by -8.1 per cent, compared with a supply-constrained 2022 market.