Perfect 10 for rising car sales
The UK new car market has posted its longest uninterrupted period of expansion for eight years, as registrations grew 16.7% 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% below pre-pandemic 2019 levels.
Petrol-powered cars remain Britain’s best sellers, accounting for 57.1% of all registrations. Alternatively powered vehicles, however, continue to make up an ever-larger share of the market, with plug-in hybrids (PHEVs) rising 23% to reach a 6.2% market share and hybrids (HEVs) growing 22.2% to comprise 12.3% of all registrations.
Meanwhile, May saw battery electric vehicles consolidate their position as the UK’s second most popular power train. A further 24,513 joined the road during the month, up 58.7% on May last year to secure a 16.9% market share.
Mike Hawes, SMMT chief executive, said: “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. 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. This will require every stakeholder – industry, government, chargepoint operators and energy companies – to play their part, accelerating investment to drive decarbonisation.”
