SMMT: New automotive market ends 5 months of decline forward of plate change

The UK new automotive market rose by 1.2% in August, in response to the most recent figures from the Society of Motor Producers and Merchants (SMMT)

The UK new automotive market rose by 1.2% in August, in response to the most recent figures from the Society of Motor Producers and Merchants (SMMT). The expansion, albeit marginal, is the primary seen since February, with some 68,858 new autos becoming a member of the street throughout what is often the second quietest month of the 12 months as many patrons select to attend for a ‘new’ numberplate in September.

Regardless of the expansion, August volumes have been nonetheless the weakest for the month, bar 2021, since 2013 as provide chain pressures continued to constrain the market.1 Giant fleet registrations fell by -1.6%, though this was offset by a 3.2% enhance in deliveries to non-public customers. Enterprise prospects noticed the most important enhance of 26.6%, however the sector is small in quantity and topic to volatility.

General development within the month was pushed primarily by battery electrical autos (BEVs), which recorded a 35.4% enhance in volumes and a 14.5% market share. Nonetheless, development on this section is slowing, with a year-to-date enhance of 48.8%, whereas on the finish of Q1, BEV registrations had been up by 101.9%.

Plug-in Hybrid (PHEV) registrations fell by -23.1% to comprise 5.6% of month-to-month registrations. Consequently, plug-in autos accounted for one in 5 (20.2%) of August’s registrations. Hybrid electrical automobile registrations remained comparatively secure, falling by -0.7%.

Superminis remained the preferred automobile class, rising market share to 34.0% as 7.4% extra of them have been delivered to prospects than in August 2021. Multi-purpose, luxurious saloon and decrease medium autos additionally recorded development of 31.0%, 1.5% and 1.3% respectively, whereas registrations of all different segments declined.

12 months thus far, registrations are down by -10.7% on final 12 months at 983,099 models – greater than a 3rd (-35.3%) decrease than throughout the first eight months of pre-pandemic 2019 – demonstrating the dimensions of the problem forward when it comes to restoration.2

Mike Hawes, SMMT Chief Government, stated,

August’s new automotive market development is welcome, however marginal throughout a low quantity month. Spiralling power prices and inflation on high of sustained provide chain challenges are piling much more strain on the automotive business’s post-pandemic restoration, and we urgently want the brand new Prime Minister to deal with these challenges and restore confidence and sustainable development. With September historically a bumper time for brand new automotive uptake, the subsequent month would be the true barometer of business restoration because it accelerates the transition to zero emission mobility regardless of the myriad challenges.

August’s figures replicate a brief interruption to registrations processing at one producer resulting from a deliberate methods improve affecting a restricted variety of autos. This doesn’t materially have an effect on the general market efficiency.

1. Registrations August 2013 – 65,937
2. Registrations Jan-Aug 2019 – 1,519,016


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