UK New Car Market Grows 5.4% in October

The United Kingdom new car market grew 5.4% in October, reaching 152,730 registrations. This marks the 11th consecutive month of growth for the industry. Battery electric vehicles (BEVs) led the increase with a 32.7% rise in deliveries, capturing 32% of the monthly market share, the highest level recorded this year.

Manufacturers drove this surge through expanded model choices and promotional offers to meet annual mandated targets. While plug-in hybrids also grew by 30.1%, traditional hybrid volumes declined by 5% during the same period.

Despite these gains, the Society of Motor Manufacturers and Traders forecasts that BEV market share will fall short of the Zero Emission Vehicle (ZEV) Mandate targets this year and in the following years. The industry is now seeking target adjustments to align with actual demand, especially as the government prepares to introduce a new electric vehicle-specific tax starting in 2028.