Sales of new cars declines – London Business News | Londonlovesbusiness.com

The Society of Motor Manufacturers and Traders (SMMT) has said that new car sales has declined as last month 84,575 were registered compared with 85,657 in August last year.

Pure battery electric vehicle sales increased by 10.8% year-on-year and the SMMT said this was due to “heavy discounting by manufacturers over the summer and a raft of new models attracting buyers.”

SMMT chief executive Mike Hawes said: “August’s EV growth is welcome, but it’s always a very low volume month and so subject to distortions ahead of September’s number plate change.

“The introduction of the new 74 plate, together with a raft of compelling offers and discounts from manufacturers, plus growing model choice, will help increase purchase consideration and be a true barometer for market demand.

“Encouraging a mass market shift to EVs remains a challenge, however, and urgent action must be taken to help buyers overcome affordability issues and concerns about charge point provision.”

Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: “UK registrations were sluggish overall in August as buyers historically hold fire for September’s plate changes.

“Heavy discounting from manufacturers helped drive the electric share of new car leads on Auto Trader to 27%, the highest market share since the end of 2022.

“The Government must maintain financial incentives for buyers of new EVs as well as cutting VAT on public charging to help support the electric transition.”