UK New-Car Sales Suffers Second Worst May in 3 Decades

UK New-Car Sales Suffers Second Worst May in 3 Decades

In May, New-car registrations in Britain declined by roughly 21 percent. This is not to say that there is no high demands for new cars as there actually is, the issue lies in the fact that there are supply challenges.

According to the Society of Motor Manufacturers and Traders (SMMT), car sales declined to 124,394 units in May. On the other hand, sales for full-electric vehicles went up by about 18 percent accounting for one in eight new cars on the road.

Last month was the second weakest May for UK car sales in three decades with the weakest being during the lockdown period.

According to SMMT CEO Mike Hawes, last month was yet another challenging month for the industry due to persisting global parts shortages. However, there is still some good news and that is the increase in sale of battery electric cars.

The SMMT also added that putting the cost of living and the ongoing chip scarcity into consideration, new car sales in Britain will probably be less than formerly anticipated.

Generally, the market has dropped by almost 9 percent, which is about 62,724 fewer units this year alone because of the supply issues.

In the first five months the car that was most purchased was the Vauxhall Corsa small-segment car.


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