Fuel prices driving market shift

Nearly three out of every five light battery electric vehicles (BEVs) registered last month went to private owners, according to data from the Motor Trade Association (MTA).

Such buyers dominated the sector as EV sales rose sharply in October compared with a year ago.

Combined registrations of plug-in hybrids (PHEVs) and BEVs totalled 3,317, up 174.1 per cent from the same month in 2025. 

PHEVs and BEVs also made up 22.7 per cent of new light vehicle sales in October, compared with 8.9 per cent a year ago.

The MTA says the shift in vehicle choice comes as consumers respond to ongoing higher fuel prices at the pump.

Larry Fallowfield, pictured, sector manager – dealers and specialist services, says what’s interesting is who is driving the low and zero-emitters out of the showroom.

“Almost 60 per cent of BEVs in October were registered to private owners,” he explains.

“Some of that is registrations catching up with sales in March when the Iran conflict started and there was a bit of panic and not enough stock to meet demand.

“But there are growing reports and belief that higher fuel prices aren’t just a spike, they’ll be around for a while yet, and that’s clearly influencing buyer behaviour.”

The MTA notes that as sales of electrified vehicles rose last month, diesel registrations fell by 27.8 per cent.

Overall, total light vehicle registrations increased by 11.5 per cent year-on-year to 23,289, the second-highest monthly total of 2026 behind September.

As with September, rental and company buyers drove the increase, taking a 71.1 per cent share of the market. Rental registrations rose 11.7 per cent to 4,921 units compared to October last year and snared a 33.6 per cent share of the new market.

Toyota’s RAV4 and the Corolla Cross were the two top-selling cars, while its Hilux pipped Ford’s Ranger in the light commercial vehicles category.

Chinese brands maintained their rapid rise and accounted for 22.7 per cent of new light vehicles in October, up from 11.5 per cent a year ago and 5.4 per cent in January 2024.

“There’s no doubt there’s a new powerhouse in town,” says Fallowfield.

“Japanese, Korean and US brands are all down on their market share a year ago, and they’re all losing ground to one player: China.

“The BYD Shark is a classic example. It’s taken a huge bite out of the commercial market and is now the fourth-biggest selling commercial vehicle.”