UK car registrations grew 12.4% YoY in March during plate change month as private retail buyers slowly return.

• 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% YoY. As a result, this year’s ‘new plate’ month represents the best March performance since 2019.
• Fleet registrations rose 11.5%, while business buyers decreased by a marginal -0.3%. There was also a recovery in private buyer uptake following last year’s lackluster performance, with a 14.5% rise in registrations.
• Battery electric car uptake rises to highest ever volume at 69,313 units but 19.4% market share still below target set by Zero Emission Vehicle Mandate.
• Industry maintains call for accelerated regulatory review and government incentives to raise demand to required level.