The Society of Motor Manufacturers and Traders Limited (SMMT) said UK new car sales fell in October by 6.0% per annum, to 144,288 units, recording the sharpest decline since July 2022. Economists had expected an increase of 4.3% per annum after an increase of 1% per annum in September.
The data showed that in October, car deliveries to private buyers fell by 11.8%, and to enterprises with a fleet of fewer than 25 cars - by 12.8%. Meanwhile, the number of car registrations among large fleets decreased by 1.7%, and the total market share was 60.1% compared to 57.4% in October 2023.
The SMMT added that the October drop was driven by double-digit drops in petrol (-14.2%) and diesel vehicle deliveries (-20.5%). However, uptake of hybrid electric vehicles (-1,6%) and plug-in hybrid electric vehicles (-3,2%) also fell. Battery electric vehicles (BEVs) were the only powertrain to record growth, up 24.5% to reach a 20.7% share of the market.