NEW car sales in the UK suffered a dramatic drop in October with private buyers shunning shiny new models and continuing a two-year downward trend.

Sales to private buyers nosedived by almost 12 per cent meaning that fewer than four in ten new cars registered in the first ten months of 2024 have gone directly to private buyers.

But while overall new car sales dropped by six per cent compared with October 2023, there was some good news for the motor industry with a significant surge in sales of battery electric cars. A raft of new BEV models drove the strongest growth so far this year - up 24.5 per cent to reach a 20.7 per cent share of the market.

UK new car buyers now have more than 125 different BEV models to choose from - 38 per cent more than were available at the beginning of the year - and while the average BEV has a higher upfront cost than its petrol or diesel-powered equivalent, widening choice and huge manufacturer discounting mean that around one in five BEV models now has a lower purchase price than the average petrol or diesel car.

One of the main beneficiaries of last month's BEV boom was Vauxhall, with the Corsa Electric listed as the UK's best-selling electric supermini in October according to the latest new vehicle registration figures from the Society of Motor Manufacturers and Traders (SMMT).

The latest figures rank Vauxhall top of the sales charts in the small car segment and the company achieved an electric car sales mix of 24.7 per cent in October.

However, while the overall BEV market share is increasing, October's decline in the total market - equivalent to a £350 million loss in turnover - highlights the challenge ahead, says the SMMT.

Although almost 300,000 new BEVs have hit the roads in 2024, this represents 18.1 per cent of the market - an increase on 2023, but still significantly short of the 22 per cent target for this year and of the 28% which must be achieved in 2025 under the Vehicle Emissions Trading Scheme.

According to SMMT chief executive Mike Hawes: "Massive manufacturer investment in model choice and market support is helping make the UK the second largest EV market in Europe. EVs already work for many people and businesses, but to shift the entire market at the pace demanded requires significant intervention on incentives, infrastructure and regulation."