In January, new car registrations dropped by 2.5%, with a total of 139,345 cars registered compared to 142,876 the previous year. The decline was particularly notable for petrol vehicles, down 15.3%, while battery electric cars surged by 41.6%. SMMT chief executive Mike Hawes emphasized the growing demand for electric vehicles (EVs), highlighting affordability as a significant obstacle. He criticized the expensive car supplement to vehicle excise duty on EVs, arguing for measures that encourage EV adoption. Market experts noted increasing challenges amid economic uncertainties and fierce competition, particularly from Chinese manufacturers.
January's figures show EV demand is growing, but not fast enough to deliver on current ambitions. Affordability remains a major barrier to uptake.
January marked a lacklustre start to 2025 for the new car market, as registrations fell for the fourth month in a row.
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