UK registrations rise 26.6% as 480,000 plug-ins expected in 2023

New car registrations increased by 26.2% in February, representing a seventh consecutive month of growth, according to new figures released by the Society of Motor Manufacturers and Traders (SMMT).

Total registrations for the month hit 74,441, which is a significant improvement over last year, if down 6.5% on pre-pandemic 2020. 

The SMMT said the easing of supply chain and semiconductor shortages contributed to the year-on-year growth, with sales growing by 5.8% for private buyers, and 46.2% for large fleets. 

Plug-in vehicles formed nearly a quarter of all deliveries (22.8%), and the SMMT is expecting additional growth throughout the year. It expects almost half a million (488,000) plug-in hybrid and battery-electric vehicles to be sold by the end of the year. 

With this expectation, the SMMT has called on the UK government to strongly consider the country's progress to net-zero in the upcoming spring budget. 

It suggested a long-term plan should be implemented to support the increasing number of plug-in vehicles in the UK with better investment into public chargers. 

The SMMT also said the government should consider aligning VAT on public charging with domestic energy use and review VED that it says will “unfairly penalise EV buyers” making the switch. 

"After seven months of growth, it is no surprise that the UK automotive sector is facing the future with growing confidence. It is vital, however, that government takes every opportunity to back the market, which plays a significant role in Britain’s economy and net zero ambition," said Mike Hawes, SMMT boss. 

"As we move into ‘new plate month’ in March, with more of the latest high-tech cars available, the upcoming Budget must deliver measures that drive this transition, increasing affordability and ease of charging for all."

Meanwhile, hybrid vehicle registrations rose by 40%, the highest growing powertrain type this month, to claim a 12.9% market share. 

Petrol vehicles remained popular, growing 35.8% and taking 56.9% of the market, but diesel vehicle purchases continued to wane, dropping 14.6% to a market share of just 4.5%.

The best-growing segment in February was minis, which increased by 66.1%, followed by multipurpose vehicles (41.9%) and superminis (37.7%). The latter is still the best-selling segment, making up 33.1% of all deliveries in the UK. 

Vauxhall claimed the top two spots in February’s best-sellers list, with the Vauxhall Corsa and Vauxhall Mokka finishing in first and second respectively. The Corsa and the Volkswagen T-Roc remain the two best-selling models since the year began.