UK car registrations post strongest jump since pandemic - SMMT

UK new car registrations posted their strongest jump since the Covid pandemic as supply chains eased up and fleet demand drove sales, industry figures released on Friday revealed.

Sales rose 17.9% to 1.9 million vehicles in 2023 - the highest level since the 2.3 million registrations in 2019, the Society of Motor Manufacturers and Traders (SMMT) said. Year-on-year December new car sales were up 9.8%.

New car sales were driven by fleet owners increasing investments after supply chain issues and a chip shortage hit production during the pandemic.

Registrations for fleet deliveries increased 38.7% to 1 million of all cars sold in 2023.

Battery electric vehicle (BEV) sales rose to 314,687, up 50,000 more than in 2022, but fell slightly as a proportion of total registrations at 16.5% of total registrations, from 16.6%.

Reporting by Frank Prenesti for Sharecast.com