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EVs energise new car market but chargepoint rollout must accelerate, says SMMT

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SMMT

The UK new car market recorded a third month of growth in October, with registrations rising by more than a quarter (26.4 per cent) to 134,344 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Fulfilment of strong order books helped deliver the bounce-back, although the increase follows a particularly disappointing October 2021 when deliveries fell by -24.6 per cent. In the year to date, the market is down -5.6 per cent on the same period in 2021, but still a third below pre-Covid levels.

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Supply shortages mean May car registrations down by 20 per cent

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New UK car registrations fell -20.6 per cent to 124,394 units in the second weakest May since 1992, after the 2020 pandemic-hit market, as supply shortages continued to hamper new purchases and the fulfilment of existing orders, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The decline, compared with the first full month of reopened showrooms in May last year, demonstrates the impact of continued global supply chain disruptions, with the market -32.3 per cent below the 2019 pre-pandemic level despite strong order books.

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Related news:

  1. Fleet sales mean March new car sales up 11.5 per cent YOY
  2. Record sales of AFVs in February as overall market dips slightly
  3. Slight fall in August new car sales, but strong showing for electric cars
  4. Decline in car sales continues in October
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Positive start’ to 2022 new car sales, but overall market levels still low

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The UK automotive sector recorded a positive start to 2022 as 115,087 new cars were registered, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Registrations were up by more than a quarter (27.5 per cent) on January 2021, when lockdown restrictions kept car showrooms shut.

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  1. Record sales of AFVs in February as overall market dips slightly
  2. Slight fall in August new car sales, but strong showing for electric cars
  3. 35.5% decline means lowest February car registrations for 62 years
  4. Fleet sales mean March new car sales up 11.5 per cent YOY
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Dealers optimistic about demand despite current new car issues – NFDA

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NFDA

The National Franchised Dealers Association argues that there is cause for optimism in the new car sector based on strong consumer demand, despite a disappointing 1 per cent increase in new car registrations in 2021. Chief executive Sue Robinson said: “A poll conducted by NFDA revealed that 78.6 per cent of franchised vehicle dealers are optimistic about the level of demand in the year ahead as consumer confidence improves while we move through the pandemic and the electrification of the UK car parc continues apace.

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  1. Fleet sales mean March new car sales up 11.5 per cent YOY
  2. Record sales of AFVs in February as overall market dips slightly
  3. August car sales up 23 per cent – electric cars account for one in twelve sales
  4. Cautious optimism on car sales from NFDA
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‘Year EVs became mainstream’ but infrastructure, pricing concern buyers – Deloitte

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Responding to the Society of Motor Manufacturers and Traders’ 2021 new car registration data, analyst Deloitte has proclaimed 2021 “the year electric vehicles became mainstream”. It added that range issues are receding as a headwind thanks to technological progress. It identifies the speed of charge point infrastructure and the price of entry post-subsidies as the major headwinds for the sector in 2022.

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Most successful year for electric cars, but 2021 UK registrations just 1% higher than 2020

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2021 UK car sales were stalled by Covid and its impact on the supply chain, the Society of Motor Manufacturers and Traders explains. 1.65 million new cars were registered in an increase of just 1.0 per cent on pandemic-ravaged 2020, making it the second-worst year since 1992. Sales were -28.7 per cent below pre-Covid levels thanks to headwinds, which included the semiconductor shortage. However, figures did show that the transition to electric cars is proceeding quickly. More than one in six registrations were plug-in, while battery electric cars alone rose to one in nine. Overall, the SMMT notes that this means more BEVs (Battery Electric Vehicles) were registered than in 2016-2020 combined. The society added that the UK auto industry is calling for the government to extend incentives and mandate chargepoint targets. It argues that the UK needs to accelerate consumer uptake of EVs, maintaining the country’s attractiveness against competitor markets.

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  2. Fleet sales mean March new car sales up 11.5 per cent YOY
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Fleet sales mean March new car sales up 11.5 per cent YOY

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SMMT

The car registration data from the Society of Motor Manufacturers and Traders (SMMT) for the month of March shows that the UK new car market recorded its first ‘growth’ since August 2020, with 29,280 more units registered during March compared to the same month last year. However, the month represents the anniversary of the first lockdown in March 2020, when the pandemic brought Britain to a standstill and registrations fell by -44.4 per cent.

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  1. Record sales of AFVs in February as overall market dips slightly
  2. 36th month of growth in car sales
  3. Fleets drive August growth in car registrations
  4. Slight fall in August new car sales, but strong showing for electric cars
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35.5% decline means lowest February car registrations for 62 years

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The UK new car market declined by -35.5 per cent in February as 28,282 fewer units were registered during a traditionally weak month for new vehicle uptake, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The industry recorded its lowest February uptake since 1959, with 51,312 new cars registered.

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  1. Record sales of AFVs in February as overall market dips slightly
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  3. UK new car market down a third as tentative restart reveals subdued demand
  4. 36th month of growth in car sales
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BuyaCar predicts surge in car sales when lockdown restrictions ease

Dealers should be ready for a new surge in car sales when Britain emerges out of lockdown, according to the specialist online car supermarket BuyaCar.co.uk. The digital motor retailer issued the alert after conducting research (among 421 car owners) which reveals that an overwhelming majority of people will choose to use their own car over other modes of transport, when the latest national lockdown restrictions are lifted. 

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  1. Women account for 50% of online car purchases for first time
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  4. SMMT urges government to back new-tech diesel following market decline, uncertainty
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Positive news on Australian auto sales in January

News from the Federal Chamber of Automotive Industries (FCAI) reveals that Australia motor vehicles sales grew by year-on-year 11.1 per cent in January 2021.

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Mixed reactions to November car sales figures

The reactions to November’s UK car registration figures, which fell by 27.4 per cent year-on-year according to the SMMT, varied in tone; some were optimistic, others were worried about whether or not the industry could cope with the brought-forward target of 2030 for phasing out of sales of new petrol and diesel cars. And of course there was the uncertainty of whether a Trade Deal could be negotiated with the EU and of the effects of Brexit on the automotive industry, not to mention the effect on the automotive business of the pandemic.

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  1. Best January for new car sales for eight years
  2. UK car registrations decline in May – SMMT figures
  3. New car sales continue to slide in October
  4. Slight fall in August new car sales, but strong showing for electric cars
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NFDA comments on FCA’s Motor Finance Discretionary Commissions ban

The Financial Conduct Authority (FCA) has confirmed it will introduce a ban on motor finance discretionary commission models. The announcement followed a consultation in October 2019. “In the light of consultation feedback and the additional operational pressures which the sector is facing at present the FCA has agreed to give firms limited additional time to implement the new rules, with the ban coming into force on 28 January 2021”, FCA said.

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  1. European new car sales hit 10-year high, UK declining quickly
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Over two-thirds of over 55s bought car outright

Over two-thirds (69 per cent) of car owners over 55 bought their car outright without using finance, compared to half (50 per cent) of 34 – 54yrs and a third (33 per cent) of under 34s, according to a survey of over 2,000 UK drivers. On average, over half (56 per cent) of cars were bought outright via cash or debit card, 10 per cent were bought on hire purchase, 11 per cent using personal contract purchase (PCP), 5 per cent loan from a bank, 5 per cent on lease and 3 per cent were given as a gift. The Opinium survey, commissioned by InsuretheGap, an independent provider of GAP (Guaranteed Asset Protection) car insurance, finds that almost one in five (17 per cent) under 34s use a PCP to finance a car purchase, compared to just 9 per cent of over 55s.

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17.2 per cent decline in global light vehicle market 2020 – GlobalData

The world’s light vehicle market is forecast to decline by 17.2 per cent to 73.6 million units in 2020 due to the impact of the Covid-19 pandemic and its associated economic fallout, according to data and analytics company GlobalData. Calum MacRae, automotive analyst at the company, comments: “This is a bigger one-off shock than witnessed in the two years of the global financial crisis.”

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Peak petrol – has UK hit auto landmark unnoticed?

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Volkswagen

Following the SMMT’s June round of car registrations figures, analyst Deloitte wonders if there is cause to think a UK automotive landmark has passed. While much of the focus has been on the historic depths the country’s car sales have hit, the proportional demand for hybrid and electric vehicles has continued to rise at pace. Michael Woodward, UK automotive lead, Deloitte, said: “The automotive industry is taking positive steps towards recovery from the impact of COVID-19. Socially-distanced showrooms have been reopened in England for a full month, and factory production is ramping up again, in some cases faster than expected.

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Related news:

  1. SMMT urges government to back new-tech diesel following market decline, uncertainty
  2. Decline in car sales continues in October
  3. Commuters may help car market recovery
  4. Fall in new car market a ‘wake up call’ to policy makers
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