New car market records longest period of growth since 2015

The new car market has recorded its longest period of year-on-year growth since 2015, figures show.

Some 145,204 new cars were registered in May, up 16.7% from the same month last year, the Society of Motor Manufacturers and Traders (SMMT) said.

May was the 10th consecutive monthly rise, but registrations remain 21% down on the pre-coronavirus levels of 2019.

Pure electric new cars consolidated their position as the UK’s second most popular powertrain behind petrol.

A further 24,513 went on the road last month, up 58.7% on May 2022 to secure a 16.9% market share.

SMMT chief executive Mike Hawes said: “After the difficult, Covid-constrained supply issues of the last few years, it’s good to see the new car market maintain its upward trend and the fact that growth is increasingly green growth is hugely encouraging.

“Transforming the market nationwide, however, and at an even greater pace means we must increase demand and help any reticent driver overcome any concerns about electric vehicles.

“This will require every stakeholder – industry, government, chargepoint operators and energy companies – to play their part, accelerating investment to drive decarbonisation.”

Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: “It’s great to see another month of solid sales but the continued strength of the new car market will soon depend on substantial order growth in the electric segment.

“Sales of electric vehicles (EVs) are moving in the right direction but we need to see sustained momentum. Less than 10% of new car inquiries are for EVs on Auto Trader currently.

“To unlock mass adoption of EVs, we need to focus on the segments of society being left behind in the electric transition.

“Our research shows that just one fifth of women are considering an EV, opposed to a third of men.

“Women are seeing less information about EVs and not engaging with current selling points.

“In order to reach the Government’s 2030 goal, the focus needs to be on converting the masses and making EVs more accessible across different demographics.”

Sales of new petrol and diesel cars will be banned in the UK from 2030.