Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
The UK automotive industry suffered its second weakest May for sales in three decades, figures show.
Just 124,394 new cars were registered last month, the Society of Motor Manufacturers & Traders said.
That was down 21% compared with the same month last year.
It was the second lowest number of new cars registered in May since 1992.
Only May 2020 when the UK was in a coronavirus lockdown was worse for the industry.
The SMMT attributed the decline to shortages of components which are reducing vehicle availability ‘despite demand’.
Registrations of pure electric cars bucked the overall trend last month, with a 18% year-on-year increase.
Electrified vehicles such as pure electrics, plug-in hybrids and hybrids accounted for three out of 10 new cars in May.
SMMT chief executive Mike Hawes said: ‘In yet another challenging month for the new car market, the industry continues to battle ongoing global parts shortages, with growing battery electric vehicle uptake one of the few bright spots.
‘To continue this momentum and drive a robust mass market for these vehicles, we need to ensure every buyer has the confidence to go electric.
‘This requires an acceleration in the rollout of accessible charging infrastructure to match the increasing number of plug-in vehicles, as well as incentives for the purchase of new, cleaner and greener cars.
‘Delivering on net zero means renewing the vehicles on our roads at pace, but with rising inflation and a squeeze on household incomes this will be increasingly difficult, unless businesses and private buyers have the confidence and encouragement to do so.’
By Neil Lancefield, PA Transport Correspondent
source: PA
Copyright 2022 Alliance News Limited. All Rights Reserved.