Supply constraints put the brakes on car sales

New car registrations in the UK dropped by 20 per cent in one of the weakest May performances in decades, as component shortages continued to impact vehicle availability.

Amid soaring fuel costs, the uptake of electric vehicles jumped 17.7%, and they comprised 12.4% of the month's registrations. The market is still almost a third below its 2019 pre-pandemic levels, according to the latest figures from the Society of Motor Manufacturers and Traders. 

In total, 124,394 cars were registered during the month of May, the worst performance since 1992, barring the locked down May of 2020. 

"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," said Mike Hawes, SMMT chief executive. "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."

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