New car commentary | August 2024

"UK registrations were sluggish overall in August as buyers historically hold fire for September's plate changes - although we did see a better balance between fleet and retail demand, and stronger growth for electric vehicles.

"Heavy discounting from manufacturers and our biggest ever new car campaign have helped drive the electric share of new car leads on Auto Trader to 27%, the highest market share since the end of 2022. New car visits overall are up 9% year-on-year on the site.

"As we approach the end of the first year of the government's Zero Emission Vehicle Mandate, we're cautiously hopeful that this growth in EV interest will translate into higher sales although the current market share still remains below the 22% required by the ZEV rules.

"In order to ensure this is a fair and successful transition we need confidence in the existing support for the new car market, financial incentives to make used EVs affordable for all, transparency about future changes in road pricing and taxes as well as full support for the charging industry to speed up installation.