The UK motor finance sector has witnessed growth in the bus market, with new registrations of buses, coaches, and minibuses climbing by 36.1% from July to September 2024, reported the Society of Motor Manufacturers and Traders (SMMT).
This growth signifies a year and a half of consecutive market expansion, with 2,367 new vehicles registered in the third quarter.
Go deeper with GlobalData
The increase is attributed to a recovery in passenger numbers from pandemic lows, bolstered by the Bus Fare Cap Grant.
The demand surge was prevalent across all segments, with minibuses and single-deckers leading the charge, registering increases of 38.4% and 36.4% respectively.
Double-decker deliveries also saw a rise of 28.4%. England, Wales, and Northern Ireland all experienced growth in registrations while Scotland saw a decline compared to a particularly strong 2023.
Zero-emission buses (ZEBs) are gaining traction, with registrations up by 48% to 484 units in the quarter. ZEBs now make up 20.9% of all new registrations for the year to date.
SMMT CEO Mike Hawes said: “A year and a half of growth in the number of new buses, coaches and minibuses joining UK roads is good news for a sector still recovering from the pandemic.
“The latest zero-emission bus technologies provide many benefits, from innovative safety and passenger features to better local air quality and carbon savings, so the next step is long-term support – particularly for smaller and rural operators – to deliver such benefits to communities across all parts of the country.”
Last month, the SMMT reported a 6% year-on-year decrease in new car registrations to 144,288 units.
