UK May car registrations rise 16.7%
By Frank Prenesti
Date: Monday 05 Jun 2023
(Sharecast News) - New car registrations rose 16.7% in May, according to industry figures released on Monday, but are still lower than pre-Covid pandemic levels.
The Society of Motor Manufacturers and Traders (SMMT) said 145,204 new cars were registered in May compared with the same month a year ago. It is the longest period of year-on-year growth in new car sales since 2015.
However, but registrations remain 21% down on the pre-coronavirus levels of 2019.
Wholly-electric new cars were once again the second most popular behind petrol vehicles, with a further 24,513 hitting the road last month, up 58.7% on May 2022. They now have a 16.9% market share.
"After the difficult, Covid-constrained supply issues of the last few years, it's good to see the new car market maintain its upward trend and the fact that growth is increasingly green growth is hugely encouraging," said SMMT boss Mike Hawes said:
"Transforming the market nationwide, however, and at an even greater pace means we must increase demand and help any reticent driver overcome any concerns about electric vehicles."
Reporting by Frank Prenesti for Sharecast.com
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