UK new car sales rise 12% in September as EVs gain traction
by@Reuters
Summary
In September, new car registrations in the UK increased by 12% compared to the previous year, marking the highest level for the month since 2017, driven by a notable rise in electric vehicle (EV) sales amid shifting consumer preferences influenced by rising fuel costs. Battery EV registrations soared by 36.3%, while traditional petrol car sales saw a decline, holding a market share of 41.5%. This growth comes as the UK faces increasing competition from Chinese automotive brands, with Chery's Jaecoo 7 emerging as the best-selling model for the month. Additionally, the UK government is reviewing its zero-emission vehicle targets to alleviate pressures on car manufacturers as they navigate a challenging market environment.
Analysis
BYD: BYD is a leading Chinese electric vehicle manufacturer focused on battery technology and a broad range of passenger cars. It has been increasing its exports and market share in Europe, including the UK. BYD's Sealion 7 ranked as the second-best-selling battery electric vehicle in the UK for the month. Chery: Chery is a major Chinese automaker that has been expanding its global footprint with multiple brands, including Jaecoo. The company is actively growing its presence in the UK market through popular models. Chery's Jaecoo 7 achieved the top spot in overall UK new car sales for September. Jaecoo 7: Jaecoo 7 is an SUV model produced by Chery under its Jaecoo sub-brand, positioned as a premium yet accessible option in the UK market. It outperformed all other models to become the best-selling new car in Britain during September. The model's success underscores the rising appeal of Chinese brands among UK buyers. Sealion 7: Sealion 7 is a battery electric SUV from Chinese automaker BYD, featuring advanced battery and performance specifications tailored for European markets. It placed as the top non-Tesla battery electric vehicle in UK September registrations. Its strong showing reflects growing consumer interest in affordable Chinese EVs. Society of Motor Manufacturers and Traders: The Society of Motor Manufacturers and Traders (SMMT) is the leading trade association representing the UK motor industry, including vehicle manufacturers, importers, and suppliers. It compiles and releases official monthly statistics on new vehicle registrations across Britain. SMMT's latest data underpins the reported September sales increase and highlights the strong performance of battery electric vehicles and Chinese brands. EV Adoption: Electric vehicles continue to gain ground across Europe as rising fuel costs from global oil shocks encourage buyers to shift toward alternatives. Policy Review: Britain is reviewing its zero-emission vehicle targets to provide relief for carmakers facing regulatory pressures. Chinese Expansion: Chinese automotive brands are accelerating their growth in the UK, with models achieving top sales positions in key segments.
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macropolitics