New-vehicle market recovering

Sale of new vehicles in the UK increased 23.5 per cent last month when compared with November a year ago and reached 142,889 units, according to figures from the Society of Motor Manufacturers and Traders (SMMT).

It marks the fourth consecutive month of year-on-year growth and was the best November total since 2019 when 156,621 units were sold.

However, the SMMT notes registrations were still 8.8 per cent below 2019 levels and, while further recovery is anticipated in 2023, global and domestic economic challenges mean the market will remain below pre-pandemic levels.

Registrations by large fleets energised the market after climbing 45.4 per cent when compared with November last year. 

Demand from private buyers up 2.7 per cent and business registrations increased 112.2 per cent but remain a small fraction of the overall market.

The market share of battery electric vehicles (BEVs) grew by 35.2 per cent to represent more than one in five new cars, or 20.6 per cent – the largest monthly share for such vehicles this year. 

Meanwhile, plug-in hybrid (PHEVs) registrations fell by 5.7 per cent and made up 7.1 per cent of the market. 

Overall, there were 39,558 units with plugs sold in November, while hybrids  accounted for a further 11.2 per cent of sales activity.

Mike Hawes, SMMT chief executive, says: “Recovery for Britain’s new car market is back within our grasp, energised by electrified vehicles and the sector’s resilience in the face of supply and economic challenges. 

“As the sector looks to ensure that growth is sustainable for the long term, urgent measures are required – not least a fair approach to driving EV adoption that recognises these vehicles remain more expensive, and measures to compel investment in a charging network that is built ahead of need.”