UK new car Registrations fell 9% in July 2022 to 112,162 units, marking the fifth consecutive month of decline.
Global supply chain issues – mainly the ongoing global semiconductor shortage – played a significant role in the decline. Lockdowns in major manufacturing and logistics hubs in China are another problem, as is the war in Ukraine, where many car parts are made.
Registrations have remained steady among private consumers in the UK, but there has been an 18.2% drop in fleet registrations. Therefore, the industry is currently prioritizing private orders.
The number of electric vehicles increased by 9.9% compared to July 2021. So far this year, EVs accounted for 13.9% market share.
The Association of Motor Manufacturers and Traders (SMMT) outlook for the full year 2022 has been revised down to 1.6 million registrations, down 2.8% from 2021.
The prediction for 2023 has also been lowered, but next year is still expected to be an improvement in 2022 with around 1.89 million registrations, with a plug-in market share of 27.8%.
Mike Hawes, chief executive officer of SMMT, said: “The auto industry has had another rough month and is leaning on its underlying resilience for the third consecutive year of challenges as supplies have been constrained. in the delivery of goods.
“While the order book is strong, we need a healthy market to ensure the sector meets the government’s ambitious carbon-saving needs. The next prime minister must facilitate economic growth, restore consumer confidence and support the transition to zero-emissions mobility.”
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