August delivered second new car registrations rise since February. Although the automotive industry is showing a sign of growth in August with a 1.2% increase, the year-to-date figure shows a decrease of 10.7%.
Data from the Society of Motor Manufacturers and Traders(SMMT) shows that a total of 68,858 vehicles were registered in August 2022 compared to the August 2021 figure of 68,033.
The year-to-date figures show that a total of 983,099 cars have been registered this compared to last year’s figure of 1,101,302.
Mike Hawes, SMMT Chief Executive, said,
“August’s new car market growth is welcome, but marginal during a low volume month. Spiralling energy costs and inflation on top of sustained supply chain challenges are piling even more pressure on the automotive industry’s post-pandemic recovery, and we urgently need the new Prime Minister to tackle these challenges and restore confidence and sustainable growth. With September traditionally a bumper time for new car uptake, the next month will be the true barometer of industry recovery as it accelerates the transition to zero emission mobility despite the myriad challenges.”
