UK new car sales fall slightly in August, industry data shows

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(Reuters) -New car registrations in Britain fell slightly in August, industry data showed on Thursday, in line with expectations of a traditionally quieter month.

The Society of Motor Manufacturers and Traders (SMMT) said new car registrations fell about 1.3% year-on-year to 84,575 units in August as many buyers prefer to wait until September’s new number plate.

Demand for battery electric vehicles (BEV) in the month rose 10.8% as buyers took advantage of summer discounts.

SMMT expects the BEV market share to rise to 18.5% from its current 17.2% by the end of the year with a forecast of about 364,000 BEV registrations in 2024.

“Encouraging a mass market shift to EVs remains a challenge, however, and urgent action must be taken to help buyers overcome affordability issues and concerns about chargepoint provision,” SMMT chief Mike Hawes said in a statement.

Fleet purchases drove the market, accounting for six in 10 cars registered last month despite a 1.2% drop compared with the same month last year.

“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,” Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said.

(Reporting by Amna Karimi and Yamini Kalia; Editing by Janane Venkatraman and Mrigank Dhaniwala)