New car sales in July, where supply shortages continue, decreased by -24%

UK new car registrations fell 24.3% to 140,957 in June, according to the latest figures from the Association of Automakers (SMMT).

SMMT boss Mike Hawes said the market has been hit hard by the ongoing shortage of parts.

“The shortage of semiconductors is putting more pressure on the new car market than last year’s blockade,” he said.

Battery sales were otherwise a highlight of the dark market. Battery Electric Vehicle (BEV) increased its sales volume by 14.6% as its market share increased from 10.7% in the previous year to 16.1% and continued to grow.

Conversely, the penetration rate of plug-in hybrid electric vehicles (PHEVs) decreased by 4,425 units, gaining a market share of 5.5%.

In total, plug-in vehicles accounted for more than one-fifth (21.6%) of new vehicles joining the road each month.

With the exception of hybrid electric vehicles (HEVs), registration numbers and market share have declined in all other powertrains. Hybrid electric vehicles (HEVs) increased their market share to 10.6%, despite a decrease of 1,172 units.

The decline is most noticeable in large fleets, with registrations down -27.6% as automakers target more profitable retail consumers and sales volume declines by -21.7%, which is more modest. ..

The number of new car registrations over the past year has decreased by -11.9% to 802,079 units. This is the 2020 bar, the weakest first half performance since 1992.

In the first half of 2022, about 107,894 new cars were registered compared to the same period last year. Demand in 2021 was limited by the dealer blockade until April, and consumers could only buy cars by click and collect.

More aggressively, the market share of electric vehicles continues to grow. The plug-in records one-fifth of new car registrations to date, demonstrating the manufacturer’s commitment to provide the latest zero-emission vehicles.

However, the pace of this growth has slowed, with registrations increasing by 26.0% in the first half of 2022 compared to 161.3% in the first half of 2021.

SMMT said the abolition of plug-in car subsidies means that the UK is currently the only major European market with no purchase incentives for private EV buyers.

New car sales in July, where supply shortages continue, decreased by -24%

Source link New car sales in July, where supply shortages continue, decreased by -24%

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