UK new car market sees growth in May 2025: SMMT
From Yahoo Finance: 2025-06-06 11:46:00
The UK’s new car market saw a 1.6% increase in May, with 150,070 units sold, the best performance since 2021, but still 18.3% lower than pre-pandemic levels. Fleet and business sectors drove the growth, while private buyer interest declined. Electric vehicles surged to a 47.3% market share.
Despite growth, BEV registrations fell short of the 28% target, with only a 20.9% market share for the year. Manufacturer discounts, especially on EVs, played a role in boosting sales. SMMT chief Mike Hawes stressed the need for government support through fiscal measures to drive demand and decarbonize road transport.
In a related report, the UK’s light commercial vehicle market declined by 11.8% in May 2025, with 22,796 vans, 4x4s, and pick-ups registered. This news, along with the growth in the new car market, highlights the challenges and opportunities in the automotive industry.