UK new car registrations were up by 9.5% year-on-year in November, according to the Society of Motor Manufacturers and Traders (SMMT).
In line with recent trends, this growth was entirely driven by fleet registrations, which were up by 25.4% and accounted for 59.4% of the overall market.
Private registrations were down by 5.9%, while business registrations – classed as those to firms with fewer than 25 vehicles – fell by 32.7%.
Overall, last month was the strongest November the market has seen for four years, and only 0.1% down on pre-pandemic levels.
As well as driving overall market growth, the SMMT has also highlighted how corporate demand is the main force behind electrification, with 77.4% of the new EVs registered in November going to fleets and businesses. However, EV registrations overall were down by 17.1% year on year, accounting for 15.6% of the market – although the SMMT said this was compared with atypically high registrations in November 2022.
Plug-in hybrid registrations were up by 55.8% year-on-year in November, for a 10.1% market share, while conventional hybrids were up by 27.8%, accounting for 13.1% of the market.
Mild hybrid petrol registrations grew by 30.5% for a 14.9% market share, while mild hybrid diesels were down by 5%, taking 3.7% of the market.
Petrol car registrations rose by 7.4% to take 39.5% of the market, while diesels were down by 16.8%, accounting for just 3% of registrations.
SMMT chief executive Mike Hawes said: “Britain’s new car market continues to recover, fuelled by fleets investing in the latest and greenest new vehicles.
“With car makers gearing up to meet their responsibilities under new market legislation, and COP28 currently underway, now is the time to take sensible steps that will multiply that economic growth and minimise carbon emissions.
“Private EV buyers need incentives in line with those that have so successfully driven business uptake – and workable trade rules that promote rather than penalise the transition.”