Commentary | New car registrations October 2024
October new car sales are lagging, although electric vehicles are taking a bigger share of the market thanks to heavy discounting.
"October new car sales are lagging, although electric vehicles are taking a bigger share of the market thanks to heavy discounting. The subdued petrol and diesel sales are also likely to be driven by the efforts of manufacturers to hit EV sales targets under the Zero Emissions Vehicles mandate.
Manufacturers are making significant efforts to bridge the price gap to electric – as shown by the average 12% electric discount on Auto Trader’s site in October - but the market is still not achieving the volumes needed. With the reinstated 2030 ban date on the sale of new petrol and diesels vehicles looming, we urgently need to make the positive case for EVs to ensure a broader healthy new car market."
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