Fleet sales drive new car market to reach million milestone

The UK new car market has hit the million sales in the first half of the year for the first time since 2019  

Even so, June saw a modest growth of 1.1% in new car registrations, reaching 179,263 units, according to the Society of Motor Manufacturers and Traders (SMMT).

So far in 2024, a total of 1,006,763 new cars have been registered, marking a 6.0% increase from the previous year, though still 20.7% below 2019 levels.

June’s market growth was driven by the fleet sector, which saw a 14.2% increase in uptake, while private retail demand continued to decline for the ninth consecutive month, dropping by 15.3%. Private buyers accounted for less than 40% of new car registrations (37.7%).

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