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Published by Global Banking & Finance Review®

Posted on April 7, 2026

1 min read

UK new car sales grew 6% in March, industry data shows - Finance news and analysis from Global Banking & Finance Review

UK New Car Sales Up 6% in March; BEV Volumes Hit Record, SMMT Reports

March 2024 UK Car Sales and Electric Vehicle Market Overview

April 7 (Reuters) – New car registrations in the UK grew around 6% in March, which is usually the biggest month for vehicle registrations in the country, preliminary industry data showed on Tuesday.

Battery Electric Vehicle (BEV) Market Performance

Battery electric vehicle (BEV) volumes reached a record high during the month, according to data from the Society of Motor Manufacturers and Traders (SMMT), though their overall market share is estimated at around 23%, still well below the government‑mandated target of 33% for 2026.

Industry Response and Calls for Policy Review

The industry has intensified calls for an urgent review of the UK’s electric vehicle transition, warning that the Iran crisis is magnifying uncertainty among consumers. Surging gas prices driven by the Middle East conflict have lifted electricity rates in Europe, including in Britain.