Fleet registrations up 5.1% in November
The fleet market continued to drive new car registration growth in November, with the overall market seeing record year-to-date figures.
Latest figures from the SMMT show that the total new car market was up 2.9% last month to 184,101 units compared to 178,876 in November 2015.
The fleet market rose 5.1% from 94,467 units to 99,299 units, giving it a 53.9% market share; up from 52.8%.
Sub-25 ‘business’ registrations saw strong growth, up 24.3% to 6,735 units from 5,420. However private registrations fell 1.2%.
Alternatively fuelled vehicles achieved a record market share of 3.6% in November, with demand up by 25.1% to 6,663 units, representing 3.6% of the market – the highest ever achieved.
Petrol registrations grew 7.9% to 88,541 units, giving them a 48.1% market share compared to 45.9% for November 2015. Diesel market share remained slightly ahead at 48.3%, down from 51.2% a year ago, after registrations fell 2.9% to 88,897 units.
Superminis continued to be the most popular body style in the overall market – making up more than a quarter (29.7%) of all cars registered in November – followed by small family cars and SUVs. Executive and city cars enjoyed the biggest growth, up 27.7% and 25% respectively.
Year to date, a total of 2,514,764 new cars were registered – up 2.5% on last year and marking a record for the period. Fleet registrations from January to November rose 5.3% to 1,278,537 units from 1,214,570, nudging the sector to cover over half the market at 50.8% compared to 49.5% for the first 11 months of 2015.
In contrast business registrations fell 4.1% from 101,648 units to 97,432 units. Private registrations remained broadly static, up 0.1% to 1,138,795 units.
Mike Hawes, SMMT chief executive, said: “Our industry continues to make vehicles that are ever safer, more refined, more efficient and more enjoyable to drive – and the latest advanced technology and cutting-edge designs are continuing to attract buyers into showrooms. It’s encouraging to see that alternatively fuelled vehicles, although still a small proportion of the market, have seen strong growth this month achieving a record market share. Long-term government support and incentives are essential if these vehicles are to command a larger market share in the future.”