Hybrid electric vehicles (HEVs) recorded the most significant growth of all fuel types, up 40.0%, followed by petrol, up 35.8% with a 56.9% market share, while diesel registrations fell by 7.0%.2 Zero emission capable vehicles, meanwhile, continued their upward trend, with plug-in hybrids (PHEVs) rising 1.0% and battery electric vehicles (BEVs) posting another strong month, up 18.2% to account for one in six new UK car registrations.
It was a strong month for large fleet registrations, which increased by 36.8% to 69,540 units, while registrations by private buyers fell by 4.3% to 59,639 units – reflecting some easing of supply and evidence of how shortages last year distorted market performance. Registrations by businesses, the smallest segment at 2,815 units, rose by 45.6%.
Constrained supply saw many manufacturers prioritise deliveries of the latest zero emission-capable models. December saw battery electric vehicles (BEVs) claim their largest ever monthly market share, of 32.9%, while for 2022 as a whole they comprised 16.6% of registrations, surpassing diesel for the first time to become the second most popular powertrain after petrol.
Growth delivered the best total for November since 2019, with manufacturers continuing efforts to fulfil orders amid erratic global components supply. However, registrations in the month were still 8.8% below 2019 levels and, while further recovery is anticipated in 2023, global and domestic economic challenges mean that the market will remain below pre-pandemic levels.
Some 1,785,447 vehicles changed hands, the first time that quarter three transactions have dipped below two million since 2015, as semiconductor shortages impacted supply of stock. In the year to date, sales are now down -9.7% to 5,319,482.
Zero emission capable car deliveries continued to grow in volume, with battery electric vehicle (BEV) registrations increasing by 23.4% to 19,933 and plug-in hybrids (PHEVs) by 6.2% to 8,899. However, BEV uptake grew by less than the overall market for the first time since the pandemic, meaning October is the first month to see BEV market share fall year on year since May 2021, primarily attributable to supply challenges.
During what is typically the second biggest month of the year for the sector, 225,269 cars joined Britain’s roads. While this was a 9,957 unit increase on last year, when the industry recorded its weakest September since 1998, overall registrations for the month are still some 34.4% below pre-pandemic levels as the industry continues to battle issues constraining supply to fulfil a backlog of orders.
Some families who previously owned two cars are making savings by cutting back to one. Plus, there are undoubtedly other people who are selling their only car when faced with spiralling living costs.
The growth, albeit marginal, is the first seen since February, with some 68,858 new vehicles joining the road during what is typically the second quietest month of the year as many buyers choose to wait for a ‘new’ numberplate in September.
The semiconductor shortage is stifling the new car market even more than last year’s lockdown. Electric vehicle demand continues to be the one bright spot, as more electric cars than ever take to the road, but while this growth is welcome it is not yet enough to offset weak overall volumes, which has huge implications for fleet renewal
