Industry News

Seven months of growth for new car sales figures

posted on 08/03/2023
Seven months of growth for new car sales figures

“New car sales have continued their positive start to the year and we expect steady improvement in both new and used vehicles throughout the year,” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT’s new passenger car registration figures.

In February, a total of 74,441 new cars were registered, an increase of 26.2% from the same period last year. Sales to private buyers grew by 5.8%; fleet registrations were up by 46.2%.

Battery electric vehicles (BEVs) experienced moderate growth, up 18.2% to 12,310 units. Plug-in hybrid (PHEVs) registrations increased by1% to 4,723 units, whilst hybrids (HEVs) experienced impressive growth of 40% to 9,633 units. There are now 29,607 registered BEVs on the road in 2023 compared to the 24,850 at the same point last year, a 19.1% increase.

With sales of electric growing, diesel fell from 3,922 units to 3,348 (-14.6%), but petrol has risen from 23,952 units to 32,311 units (34.9%).

Sue Robinson added: “Steady macro-economic conditions should allow the new vehicle market to deliver a solid year. Franchised dealers continue to assist customers with choosing the right vehicle for their needs, finding appropriate financing schemes and the service plan.”

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