Registrations in the fleet and business markets rose in August, figures from the Society of Motor Manufacturers and Traders (SMMT) confirms.
According to the monthly data from the UK’s trade association for the motor industry, both of these markets followed the trends seen in the electric vehicle registration market, which enjoyed a huge increase.
Both the fleet and business markets saw their own registrations rise markedly; for the former, August 2018’s registrations were almost 20% higher than the same month last year. For the latter meanwhile, the rate of increase was a mammoth 166%.
In the fleet market, 50,157 vehicles were registered in August, up from 41,898 the year before.
For business vehicles, registrations rose from 938 in August 2017 to 2,499 a year later.
It is part of an overall boost in the new car market seen in August. Petrol, alternatively-fuelled vehicles, private, fleet, business and light commercial all saw their registrations increase for the month.
The only area where there was a decrease was in the diesel market, but that is representative of the changing position of the government’s strategy to phase out new diesel engines in just over 20 years’ time.
In terms of the overall share for the fleet and business markets, the former actually saw a slight fall from 54.8% in August 2017 to 53.3% in August 2018, despite the significant rise in registrations.
For the business market, the small share of overall registrations in this field did see a relatively large increase – from 1.2% last year to 2.7% now.
However, the year-to-date figures slightly temper the good news recorded in the monthly series.
for the fleet market, an decrease just shy of 5% has been recorded for registrations up to now this year – 819,3111 vehicles compared to 859,714 at the same time of 2017.
In the business vehicle registration market meanwhile, 56,284 vehicles have been registered this year, which is 8.6% less than the 61,605 at the same stage last year.