UK markets open in 3 hours 11 minutes
  • NIKKEI 225

    27,771.28
    -6.62 (-0.02%)
     
  • HANG SENG

    19,320.62
    +645.27 (+3.46%)
     
  • CRUDE OIL

    80.58
    +0.60 (+0.75%)
     
  • GOLD FUTURES

    1,821.10
    +11.50 (+0.64%)
     
  • DOW

    34,429.88
    +34.88 (+0.10%)
     
  • BTC-GBP

    13,986.69
    +154.49 (+1.12%)
     
  • CMC Crypto 200

    409.13
    +7.71 (+1.92%)
     
  • ^IXIC

    11,461.50
    -20.90 (-0.18%)
     
  • ^FTAS

    4,138.81
    -2.23 (-0.05%)
     

New car market records third successive month of growth

The UK’s new car market has recorded a third successive month of growth.

Some 134,344 new cars were registered in October, up 26.4% compared with the same month last year, according to the Society of Motor Manufacturers and Traders (SMMT).

The SMMT attributed the increase to “strong order books” being partly fulfilled.

But it noted that October 2021 was “particularly disappointing”.

(PA Graphics)
(PA Graphics)

The total number of new cars registered so far this year is a third below pre-coronavirus levels.

SMMT chief executive Mike Hawes said: “A strong October is hugely welcome, albeit in comparison with a weak 2021, but it is still not enough to offset the damage done by the pandemic and subsequent supply shortages.

“Next year’s outlook shows recovery is possible and EV (electric vehicle) growth looks set to continue, but to achieve our shared net-zero goals, that growth must accelerate and consumers given every reason to invest.

“This means giving them the economic stability and confidence to make the switch, safe in the knowledge they will be able to charge – and charge affordably – when needed.

(PA Graphics)
(PA Graphics)

“The models are there, with more still to come; so must the public chargepoints.”

Registrations of pure battery electric new cars grew by less than the overall market for the first time since the pandemic, up 23.4%.

The year-on-year market share of the cars fell for the first time sine May last year, from 15.2% t0 14.8%.

The SMMT said this was “primarily attributable to supply challenges”.