Both the new car and new light commercial vehicle markets have enjoyed consecutive months of growth, according to new figures from the Society of Motor Manufacturers and Traders.
It found that new car registrations grew 16.7% in May to 145,204 units, making it 10 months of continuous growth. Year-to-date sales have now risen to 772,454 units, which is 16.8% up on the first five months of last year.
Alternatively-fuelled vehicles continue to drive increases, with plug-in hybrids (PHEVs) rising 23% in May to reach a 6.2% market share and hybrids (HEVs) growing 22.2% to comprise 12.3% of all registrations. Electric vehicles are up 58.7% on last May, with 24,513 joining the roads to secure a 16.9% market share.
Meanwhile, LCV registrations grew by 15.3% in May compared to last year, reaching 25,359 units, making it the fifth consecutive month rising sales.
Mike Hawes, SMMT Chief Executive, said: “After the difficult, Covid-constrained supply issues of the last few years, it’s good to see the new car market maintain its upward trend and the fact that growth is, increasingly, green growth is hugely encouraging. Transforming the market nationwide, however, and at an even greater pace means we must increase demand and help any reticent driver overcome any concerns about electric vehicles. This will require every stakeholder – industry, government, chargepoint operators and energy companies – to play their part, accelerating investment to drive decarbonisation.”
