UK new car sales: weakest June since 1996

UK new car sales: weakest June since 1996

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The UK has seen its weakest June for new car registrations since 1996, with a 24.3 per cent year-on-year decline to 140,958 units in 2022.

According to the Society of Motor Manufacturers and Traders (SMMT), the decrease was driven by the ongoing global shortage of semiconductors, which has been exacerbated by China’s implementation of severe Covid restrictions.

Despite the challenges, there was a 14.6 per cent increase in the number of electric cars registered. Market share of EVs has also risen from 10.7 per cent in June 2021 to 16.1 per cent in June 2022.

Last month saw a 27.6 per cent fall in fleet registrations, while private registrations were also down 21.7 per cent. There was a 5.3 per cent drop in the business sector of the market, too.

The new car market is not recovering at the rate the industry had predicted. While the component shortage has played a role in this, the SMMT argues that the axing of the plug-in car grant has had an effect as well.

Mike Hawes, chief executive of the SMMT, said: “The semiconductor shortage is stifling the new car market even more than last year’s lockdown. Electric vehicle demand continues to be the one bright spot, as more electric cars than ever take to the road, but while this growth is welcome it is not yet enough to offset weak overall volumes, which has huge implications for fleet renewal and our ability to meet overall carbon reduction targets.

“With motorists facing rising fuel costs, however, the switch to an electric car makes ever more sense and the industry is working hard to improve supply and prioritise deliveries of these new technologies given the savings they can afford drivers.”

Thinking of buying an electric, petrol or hybrid car? Read our buying guide to help you along the way…

Source : Autoexpress.co.uk
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