The UK’s new-car market experienced a decline in February, with registrations dropping by 1% compared to the same month in 2024. Despite this decrease, the overall performance was still considered strong, with a total of 84,054 new cars delivered to customers.
The decline in registrations can be attributed to disruptions caused by the COVID-19 pandemic and supply-chain issues that affected the market between 2020 and 2023. However, when compared to February 2019, the market was up by 2.5%.
Petrol and diesel vehicles saw the most significant declines in registrations in February, with petrol registrations falling by 17.3% and diesel registrations dropping by 15.1%. These declines contributed to a 17.1% decrease in total internal-combustion engine (ICE) registrations for the month.
One bright spot in February was the surge in battery electric vehicle (BEV) registrations, which increased by 41.7% compared to the previous year. BEVs accounted for 25.3% of total registrations in February, highlighting the growing popularity of electric vehicles in the UK market.
The plug-in hybrid (PHEV) market also saw a strong month, with registrations increasing by 19.3%. Combining BEVs and PHEVs, the electric vehicle (EV) market grew by 35.2% in February, capturing 33.9% of total registrations.
Overall, the electrified market, including hybrid electric vehicles (HEVs), saw significant growth in February, with a total share of registrations reaching 47.5%. This trend is expected to continue as more consumers opt for electric and hybrid vehicles in response to stricter emissions regulations.
Despite the challenges faced by the automotive industry, particularly in the ICE segment, the shift towards electrified vehicles indicates a positive trend towards a more sustainable and environmentally friendly future for the UK’s new-car market. As the market continues to evolve, it will be interesting to see how manufacturers adapt to meet the increasing demand for electric and hybrid vehicles.
