The UK new car market grew in 2024, driven by fleet demand, according to the Society of Motor Manufacturers and Traders (SMMT). Registrations rose by 2.6% to 1,952,778 vehicles, with fleet registrations increasing by 11.8%, securing a 59.6% market share. In contrast, private registrations fell by 8.7%, and business registrations dropped by 3.1%.
Electric vehicles (EVs) claimed a 19.6% market share, up 21.4% year-on-year, though still short of the 22% required by the Government’s ZEV mandate. Fleets led EV growth, with 25.4% of fleet and business registrations being EVs, compared to just 10% in the private market.
Other fuel types saw gains, with plug-in hybrids up 18.3% (8.6% market share) and hybrids up 9.6% (13.4% market share). However, petrol registrations fell by 4.4% (52.2% market share), and diesels declined by 13.6% (6.3% market share).
SMMT and industry leaders stressed the need for policy clarity, investment in charging infrastructure, and continued innovation to support electrification and sustainability goals.