According to new figures from the Society of Motor Manufacturers and Traders (SMMT) the U.K. new car market rose in May. 
A total of 150,070 new cars were registered, marking the best May performance since 2021 though still -18.3% lower than pre-pandemic levels in 2019. 
New car regulations by private buyers fell for the second consecutive month.
On a more positive note, demand for electrified vehicles increased significantly capturing a combined market share of 43.3%.

A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. Next week’s Spending Review is the opportunity for government to double down on its commitments to Net Zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.

Said Mike Hawes, SMMT Chief Executive.

Figures from the SMMT