UK Car Sales Experience Growth in 2024

In a significant rebound for the automotive sector, UK new car registrations climbed by 2.6% in 2024, totaling 1.95 million units, as reported by the Society of Motor Manufacturers and Traders (SMMT) on Monday.

Electric Vehicle Sales Fall Short of Government Targets

Despite the overall growth, the sector did not meet the government's ambitious target for electric vehicle (EV) sales, which was set at 22% for the year. EVs captured 19.6% of the market, marking their highest share since December 2022.

Call for Regulatory Review and Consumer Support

Mike Hawes, CEO of SMMT, emphasized the need for swift regulatory review and substantial consumer support to safeguard automotive investments, jobs, economic growth, and net zero ambitions. "Without urgent action, the future of the automotive industry and its contributions to the economy and environmental goals are at risk," Hawes warned.