The UK automotive market recorded a 7.2% year-on-year increase in new car registrations in February, reaching 90,100 units. According to the Society of Motor Manufacturers and Traders (SMMT), demand was supported by strong fleet sales and growing interest in electric vehicles, signaling resilience in the sector despite economic pressures.
The UK car market showed positive momentum in February as new registrations climbed 7.2% compared to the same month last year. A total of 90,100 units were registered, reflecting steady demand across passenger and fleet segments. The SMMT highlighted that electric and hybrid vehicles continue to gain traction among buyers.
Key Highlights
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UK new car registrations up 7.2% year-on-year in February
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Total units registered stood at 90,100
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Fleet sales contributed significantly to growth
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Electric and hybrid vehicles saw rising demand
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Market resilience noted despite broader economic challenges
Industry Context
Analysts point out that the growth in registrations underscores the automotive sector’s ability to withstand inflationary pressures and supply chain disruptions. The rising adoption of electric vehicles aligns with the UK’s long-term sustainability goals, while strong fleet demand indicates confidence among corporate buyers.
Sources: Reuters, SMMT