UK car market: best February in 22 years

That's according to the lastest figures from the Society of Motor Manufacturers and Traders. 

A total of 90,100 cars were registered in February, up 7.2% year-on-year, helped by strong demand from private buyers. Retail registrations rose 17.6% to 35,227 vehicles, although fleets and businesses still accounted for the majority of the market.

Fleet and business buyers registered 54,873 vehicles, giving them a 60.9% market share. So far this year, fleets have taken 146,603 new cars, representing 62.6% of all registrations.

Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said: “February is typically the smallest month of the year for car sales, so the biggest February for over two decades will be welcomed by the industry.

“At the same time, a level of uncertainty remains for both consumers and manufacturers amidst ongoing economic challenges and regulatory changes.”

Electric vehicles continued to grow but with mixed signals. Battery electric vehicles reached 21,840 registrations, taking 24.2% of the market, while plug-in hybrids jumped 43.5%.

However, industry leaders say March, traditionally the busiest month for registrations, will be crucial in showing whether EV adoption can accelerate fast enough to meet future targets.

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