UK New Car Sales Rise 6 Percent as EV Demand Hits Record

New car registrations in the United Kingdom grew by approximately 6% in March, which is traditionally the most significant month for vehicle sales in the country. Preliminary data from the Society of Motor Manufacturers and Traders (SMMT) indicates that battery electric vehicle (BEV) volumes reached a record high during the month. However, the overall market share for these vehicles is estimated at around 23%, which remains notably below the government-mandated target of 33% for 2026. The automotive industry has intensified calls for an urgent review of the transition to electric power, warning that the ongoing crisis involving Iran is magnifying uncertainty among consumers. Surging gas prices driven by conflict in the Middle East have lifted electricity rates across Europe, including in Britain, potentially impacting the adoption of cleaner vehicle technologies. Final sales figures for March are scheduled to be published later today.