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.
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.
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.
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.
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.
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.
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.
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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