Confidence grows in UK market

Registrations of new cars have increased for seven consecutive months in the UK after the number of units sold in February increased 26.2 per cent year on year to 74,441.

The Society of Motor Manufacturers and Traders (SMMT) says easing supply chain shortages have steered the market closer to pre-pandemic levels, with last month’s total down just 6.5 per cent from 79,594 units in February 2020.

Vauxhall had the top two best-selling models last month, with its Corsa, pictured, clocking 2,818 sales and its Mokka on 1,805.

Ford’s Puma was next with 1,590, followed by the Nissan Juke on 1,561 and Hyundai’s Tucson with 1,528.

The SMMT figures show there was growth in all but two market segments in February, with registrations of executive and luxury saloon cars falling by 15.4 per cent and 6.3 per cent, respectively. 

The categories that had the biggest increases were minis up 66.1 per cent, multipurpose vehicles 41.9 per cent, and superminis by 37.7 per cent.

Hybrid electric vehicles (HEVs) recorded the most significant growth of all fuel types, and rose 40 per cent. Petrol models were up 35.8 per cent and took a 56.9 per cent share of the market, while diesel registrations fell by seven per cent.

Sales of battery electric vehicles (BEVs) grew 18.2 per cent from a year ago and now account for one in every six new UK car registrations.        

Mike Hawes, SMMT’s chief executive, says the new-vehicle sector is facing the future with growing confidence after seven months of growth.