UK new car market grows by 23.5%

The UK new car market grew 23.5% in November 2022 to reach 142,889 registered units, according to the Society of Motor Manufacturers and Traders (SMMT).

Newly registered battery electric vehicles (BEVs) were 35.2%, now representing more than one in five new cars (20.6%), while plug-in hybrid (PHEVs) registrations fell by-5.7%, making up 7.1% of the market. Hybrid electric vehicles (HEVs), meanwhile, rose by 66.9% to make up 11.2% of the market.

In total, registrations in the month were still 8.8% below 2019 levels, the SMMT said.

“The car sector is poised to deliver an additional £8 billion for the UK economy in 2023, with an anticipated 15.4% market growth,” a press release said. “UK automotive is making rapid strides to deliver on its net zero targets, and further acceleration requires forward-thinking planning and collaboration from all stakeholders.”