Fleet and business new car registrations increased by 36% in June, with almost 100,000 company cars sold, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).
There were 97,468 new cars registered to fleet and business in the month, some 25,995 units more than the 71,000-plus vehicles sold in June 2022, equating to a 55% market share.
Overall, the new car market grew by 25.8% in June, with 177,266 vehicles registered - the 11th consecutive month of growth.
With waiting times easing and pent-up demand being met, the sector is a rare bright spot in a gloomy economic landscape even though overall market volumes remain below pre-pandemic levels, said the SMMT. Year-to-date, more than half-a-million (514,395) new cars have been registered to fleet and business – 54% of the overall market. That is a 37% increase on the 374,013 new cars registered with the sector in the first six months of 2022.
Deliveries of petrol cars increased 22.7%, to remain the most popular powertrain, while those of hybrids (HEVs) and plug-in hybrids (PHEVs) also rose, by 40.1% and 65.5% respectively.
Diesel registrations were down by 13.5%.
Battery electric vehicle (BEV) registrations, meanwhile, grew again, with the segment up 39.4% as 31,700 buyers chose to get behind the wheel of a zero-emission car – 17.9% of the total market.
