Home Business NewsBusinessAutomotive News New car market records 11th consecutive month of growth

New car market records 11th consecutive month of growth

by LLB staff reporter
5th Jul 23 1:50 pm

The Society of Motor Manufacturers and Traders (SMMT) said that the new car market has recorded their 11th consecutive month of growth.

The SMMT said that in June 177,266 new cars were registered up 25.8% compared to the same month last year.

Pure electric cars are now the most popular vehicle to buy behind petrol and last month 31,700 were registered up 39.4% in the same month and has a 17.9% market share.

SMMT chief executive Mike Hawes said: “The new car market is growing back and growing green, as the attractions of electric cars become apparent to more drivers.

“But meeting our climate goals means we have to move even faster.

“Most electric vehicle owners enjoy the convenience and cost saving of charging at home but those that do not have a driveway or designated parking space must pay four times as much in tax for the same amount of energy.

“This is unfair and risks delaying greater uptake, so cutting VAT on public EV charging will help make owning an EV fairer and attractive to even more people.”

Ian Plummer, commercial director at online vehicle marketplace Auto Trader, said: “Our figures show the electric share of the new car market enjoyed a much-needed boost in June – taking 15% of new car advert views up from 11% in March – due to advertising by brands promoting electric models.

“After several months of low EV interest, this is welcome news and shows that the increasing array of cheaper deals from the likes of Tesla that have hit the market in recent weeks are already stimulating demand.”

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