EV demand grows in August but supply issues undermines overall market

Demand for battery electric, plug-in hybrid and hybrid cars surges with PHEVs rising most, up 72.1 per cent

EV demand grows in August but supply issues undermines overall market

UK new car registrations fell 22 per cent in August, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).

68,033 units were registered in what is traditionally one of the quietest months of the year for new car registrations ahead of the important plate-change in September.

The monthly performance was the weakest since August 2013, and down 7.6 per cent against the average recorded over the last decade, due in part to constrained supply as the global shortage of semiconductors, an issue born of the pandemic, continues to undermine production volumes.

Demand for the latest battery electric (BEV), hybrid (HEV) and plug-in hybrid (PHEV) vehicles, however, surged, up 32.2, 45.7 and 72.1 per cent respectively.

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Demand for PHEVs has outpaced BEVs in five of the last six months since changes to the Plug-in Car Grant, affecting BEVs, were introduced in March.

There are now some 130 plug-in models on the market, with the range ever-increasing.

Registrations by private, business and fleet buyers all fell by double digits in the month with fleet purchases down 27.5 per cent, a loss of 12,627 units.

Private activity held up better, registrations dropping 15.2 per cent to 33,771 units, meaning that just shy of half (49.6 per cent) of all sales in August were driven by private consumers.

The mini segment was the only car bodystyle to see growth, up 30.7 per cent, but with just 902 registrations it is a segment prone to greater fluctuations.

So far this year, UK new car registrations remain up 20.3 per cent, to 1,101,302 registrations, an increase of 185,687 units with BEVs and PHEVs at 8.4 per cent and 6.6 per cent market share respectively.

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However, this performance is measured against the Covid-hit 2020 market, when showrooms were closed for much of the year.

Total registrations in 2021 are 25.3 per cent below the ten year average for the period January – August.

Mike Hawes, SMMT chief executive, said: “While August is normally one of the quietest months for UK new car registrations these figures are still disappointing, albeit not wholly surprising.

“The global shortage of semiconductors has affected UK, and indeed global, car production volumes so new car registrations will inevitably be undermined.

“Government can help by continuing the supportive Covid measures in place currently, especially the furlough scheme which has proven invaluable to so many businesses.”

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