Deloitte comments on new SMMT car reg figures for August 2024

Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte said:

“In a role reversal for the month of August, fleet sales have seen a slight decrease while private sales remain steady. However, fleet sales continue to dominate in terms of market share.

“We expect September to be a better indicator of where the market stands with the new registration plates set to be introduced and a number of attractive incentives and discounts likely to be offered.

“As pressure mounts on the industry to sell more electric vehicles to meet the required 22% market share, as set out in the zero-emission vehicle mandate, we expect further incentives for drivers to be introduced, making the switch to electric easier. Growing confidence in the second-hand market for electric vehicles should provide more clarity on residuals which could support lower pricing of new vehicles. 

“Concerns around charging is still a major barrier to purchase for consumers without access to off-street parking, so efforts to rollout superfast charging infrastructure will be crucial in the growth of this developing market.”
 

ENDS