UK new car registrations fell by 14.3% to 243,479 units in March, despite Battery electric vehicles enjoying their best ever month for the new registrations.
According to the Society of Motor Manufacturers and Traders (SMMT), the ongoing supply chain shortages continued to squeeze supply during what is normally the industry’s busiest month, making it the weakest March since 1998.
Private registrations grew by 8.2% in the month but large fleet registrations declined by 34.4%.
However, the SMMT reported that 39,315 new zero emission cars were registered in the month (16.1% market share), an increase of 78.7% on last year and more than all BEVs registered through 2019.
Meanwhile, The UK light commercial vehicle (LCV) market also felt the effects of supply disruption in March, falling 27.6% to 40,613.
Mike Hawes, SMMT Chief Executive, said, “March is typically the biggest month of the year for the new car market, so this performance is deeply disappointing and lays bare the challenges ahead. While demand remains robust, this decline illustrates the severity of the global semiconductor shortage, as manufacturers strive to deliver the latest, lowest emission vehicles to eagerly awaiting customers.
“Placing orders now will be beneficial for those looking to take advantage of incentives and lower running costs for electric vehicles, especially as the Ukraine crisis could affect supply still further. With increasing household and business costs, government must do all it can to support consumers so that the growth of electric vehicles can be sustained and the UK’s ambitious net zero timetable delivered.”
