January saw a return to growth in new passenger car registrations, according to the latest European Automobile Manufacturers’ Association (ACEA) figures. These followed a -3.3 per cent contraction in December. New car registrations in the EU witnessed an increase of 12.1 per cent year-on-year, reaching 851,690 units for January 2024. “It is positive to see a return to growth in the EU car market following the contraction experienced in December 2023, particularly with January traditionally being a slower month” said Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA), commenting on the figures.
Analysts at Deloitte have called on the government to increase efforts to support the transition to electric vehicles, after sales of EVs “plateaued’ at the end of 2023. Sounding a note of caution after otherwise positive figures for new car sales, Deloitte said the UK would need to incentivise battery electric vehicles in order to meet the 22 per cent market share target, while access to sufficient public chargepoints remains a concern. Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said: “While consumers have continued to purchase new cars in what’s been a strong year of growth for the industry, sales of electric vehicles (EV) have been positive but started to plateau towards the end of the year.
The UK new car market has recorded its best year since the pandemic as a strong December, up 9.8 per cent, wrapped up the 17th month of consecutive growth. 1.903 million new cars reached the road during 2023 – an increase of 17.9 per cent, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
The UK new car market grew by 9.5 per cent in November to reach 156,525 units, according to figures from the Society of Motor Manufacturers and Traders (SMMT). In the market’s best November for four years, registrations almost returned to pre-pandemic levels, down just 96 units (-0.1 per cent) on 2019.
October’s new car market grew by 14.3 per cent to reach 153,529 registrations, 7.2 per cent above pre-pandemic levels and marking the best performance for the month since 2018, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The 15th month of consecutive growth was driven almost entirely by large fleet registrations, which grew 28.8 per cent to reach 87,479 units. Private demand was stable at 62,915 vehicles, a 0.3 per cent increase, while the much smaller business sector saw registrations fall -15.2 per cent to 3,135 units. With the sustained increase in new car registrations, overall vehicle uptake is now up 19.6 per cent in the first 10 months, with the market currently enjoying its best year since 2019.
The new car market grew 24.4 per cent in August with 85,657 new vehicles registered, according to the latest SMMT figures. While August is typically a quieter month with many buyers choosing to wait until the September number plate change, an increase of 16,799 units means the sector is now entering a second year of growth. Despite this improved performance, the market still remains -7.5 per cent below pre-pandemic levels. The increase was fuelled by a surge in registrations by large fleets, rising 58.4 per cent to 51,951 units, while business registrations grew 39.4 per cent to 1,635 units. Conversely, private demand softened by -8.1 per cent, compared with a supply-constrained 2022 market.
The new car market grew 25.8 per cent in June with 177,266 vehicles registered, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The June performance marks the 11th consecutive month of growth as the industry gradually overcomes the pandemic-induced supply chain shortages that constrained production for much of the previous two years. With waiting times easing and pent-up demand being met, the sector is a rare bright spot in a gloomy economic landscape even though overall market volumes remain below pre-pandemic levels.
European new-car sales rose 17 per cent in May – a 10th straight month of growth – thanks to a 13.3 per cent year-earlier decline and pent-up demand, finds a new report from Bloomberg Intelligence (BI). This is driven by easy year-earlier comparisons, fewer supply-chain hurdles and pent-up demand.
The UK new car market has posted its longest uninterrupted period of expansion for eight years, as registrations grew 16.7 per cent in May to reach 145,204 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The performance marks 10 consecutive months of growth, although registrations remain -21.0 per cent below pre-pandemic 2019 levels.
UK new car registrations in March bounced back by 18.2 per cent to deliver the best ‘new plate month’ performance since before the pandemic, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The increase saw 287,825 units delivered, the eighth consecutive month of growth for the new car market, as supply chain challenges slowly continue to ease. As a result, the first quarter of 2023 is the strongest since 2019, with just under half a million new cars joining the road.
UK new car registrations grew by 26.2 per cent in February as 74,441 new cars joined Britain’s roads, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). While February is typically low volume ahead of the March plate change, this year it marked the seventh month of consecutive growth as easing supply chain shortages steered the market closer to pre-pandemic levels, down just -6.5 per cent on the same month in 2020.
A new automotive report from Bloomberg Intelligence (BI) anticipates 5-10 per cent growth for European car sales in 2023. European car sales climbed 12 per cent in January, helped by easy year-earlier comparisons, fewer supply-chain hurdles and pent-up demand that boosted registrations. While these new figures may bode well for sentiment, they still trail 2019 considerably, 25 per cent lower. In BEV share, the UK led other European nations, but other major markets now have the benefits of far more generous subsidies reducing the cost of the shift to electric powertrains.
The UK new car market grew 14.7 per cent in January to reach 131,994 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), setting the tone for an anticipated countercyclical year of growth. This was the best start to the year since January 2020’s pre-Covid 149,279 units and is the sixth successive month of expansion.
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.
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.