New Car Sales up in The UK For 7thMonth.
London, Monday, 06 March 2023
The number of new cars registered in the UK increased by 26.2 percent in February 2023 compared to the same month the previous year, reaching 74,441 units.
Prior to the plate change in March, February usually has low volume, but this year it was the seventh month in a row of growth as supply chain shortages eased and the market moved closer to pre-pandemic levels.
Deliveries to private buyers increased 5.8% in the month, while those to big fleets increased 46.2 percent. The market as a whole saw almost universal growth during the month. A small portion of the market, business registrations, grew by 0.7 percent.
Diesel registrations decreased by -7.0 percent, while gasoline registrations increased by 35.8 percent and held a 56.9 percent market share. Hybrid electric vehicles (HEVs) saw the greatest rise of all fuel types, up 40.0 percent. Sales of new cars have increased 18.6% year to date to 206,435 vehicles.
(Source: The Society of Motor Manufacturers and Traders Limited SMMT - Edited by, The Decision Maker - Finance and Technology editors)