Financial News: UK Car Registrations Surge 12.4%: SMMT

UK Car Registrations Surge 12.4%: SMMT

04/04/2025 - 09:42:00 (RTTNews)

(RTTNews) - UK car sales grew sharply in March from a year ago, marking its first increase in six months, data from the Society of Motor Manufacturers & Traders, or SMMT, showed Friday.

Car registrations grew by 12.4 percent to 357,103 units in March, up from 317,786 units in the corresponding month last year.

"This growth, in the most important month of the year for the new car market, builds on the March 2024 performance, where uptake rose by 10.4 percent," the SMMT said.

Sales of battery electric cars rose to the highest ever volume of 69,313 units in March. Nonetheless, the current market share of 19.4 percent is still below the target set by the zero-emission vehicle mandate.

All types of electrified vehicles recorded growth in the month, with hybrid electric vehicles, plug-in hybrids, and battery electric vehicles, which logged a massive growth of 43.2 percent. As a result, March became the largest month ever for registrations of electric cars.

There was an 11.5 percent upturn in fleet registration, while business buyers were 0.3 percent lower compared to last year. Private buyer uptake surged 14.5 percent, recovering sharply from the previous year's lackluster performance.

"Manufacturers remain committed to the market decarbonization the country and the environment demand, but we need sustained growth, not a short-term bubble driven by unsustainable manufacturer discounting and drivers rushing to beat a tax hike," Mike Hawes, SMMT Chief Executive, said.

The industry maintains a call for accelerated regulatory review and government incentives to raise demand to the required level.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Consumer Sentiment Set To Continue Recovery: GfK (24 min(s), 04 sec(s) ago)
(RTTNews) - German consumer confidence is set to continue its recovery in May as trade tariff hike ...Full Story»

Singapore Producer Prices Rise 3.3% (45 min(s), 04 sec(s) ago)
(RTTNews) - Singapore's producer prices increased for the fourth straight month in March, thou ...Full Story»

Dutch Producers More Pessimistic In April (01 hr(s), 17 min(s), 04 sec(s) ago)
(RTTNews) - Confidence among manufacturers in the Netherlands remained more negative in April, dat ...Full Story»

European Economic News Preview: Eurozone Economic Sentiment Due (02 hr(s), 02 min(s), 04 sec(s) ago)
(RTTNews) - Economic sentiment and monetary aggregates from the euro area and consumer sentiment f ...Full Story»

Singapore Unemployment Data Due On Tuesday (56 sec(s) ago)
(RTTNews) - Singapore will on Tuesday release Q1 numbers for unemployment, highlighting a very lig ...Full Story»

N. Macedonia Producer Prices Rise At Slower Pace In March (28 min(s), 56 sec(s) ago)
(RTTNews) - North Macedonia's industrial producer prices on the domestic market rose at a slow ...Full Story»

Slovenia ILO Unemployment Rate Drops Further (31 min(s), 56 sec(s) ago)
(RTTNews) - The monthly ILO jobless rate in Slovenia continued to ease in March after remaining un ...Full Story»

UK Retailers Expect Sales To Decline Sharply In May: CBI (26 min(s), 56 sec(s) ago)
(RTTNews) - UK retailers expect sales to contract sharply in May due to the impact of Autumn Budge ...Full Story»