UK new car sales fall 24% in June

New UK car sales fell almost a quarter in June, according to the Society of Motor Manufacturers and Traders.

June's 24% drop, the worst since 1996, came as global chip shortages weighed on the industry, impacting manufacturers' ability to keep up with demand.

According to the SMMT, UK drivers are being forced to wait in excess of a year to take delivery of certain models.

Approximately 800,000 new cars were sold during the first half of 2022, down 12% year-on-year for the second-weakest first-half performance since 1992.

However, figures published by the SMMT on 30 June seemingly indicated that things may be improving for the industry, with UK car engine production growing for the first time since June 2021 in May, up 13.3%, with 62,284 units leaving factory gates.

Reporting by Iain Gilbert at Sharecast.com