New car market records best February for 20 years

SMMT: Battery electric vehicle share grows during traditionally low-volume, pre-new number plate month

05 March 2024

 

The UK new car market has recorded its best February performance for two decades as registrations rose 14.0% to 84,886 units, according to the latest figures from the Society of Motor Manufacturers and Traders.

It was the 19th month of consecutive growth, which has primarily been driven by fleets investing in the latest vehicles. Indeed, fleets and businesses were responsible for the entirety of February’s increase, with registrations up 25.2% and 15.5% respectively. Private uptake...

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