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Gloucestershire Business News

Car sales rise again

New car registrations rose 16.7% to deliver 10th consecutive month of growth as supply continues to improve, says the Society of Motor Manufacturers and Traders (SMMT).

Today's figures show that the auto market is recording its longest uninterrupted period of growth since 2015, but the sector remains 21.0% down on 2019.

Other headline findings from May's SMMT data show drivers are continuing to switch to electric vehicles as BEV (battery electric) volumes grow 58.7% to take 16.9% market share.

However, petrol-powered cars remain Britain's best sellers, accounting for 57.1% of all registrations, while alternatively powered vehicles continue to make up an ever-larger share of the market: plug-in hybrids (PHEVs) rose 23.0% to reach a 6.2% market share and hybrids (HEVs) grew 22.2% and now comprise 12.3% of all registrations.

Mike Hawes, chief executive of the SMMT, 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."

Reflecting on the dramatic transformation of the market over the last three years, May saw battery electric vehicles consolidate their position as the UK's second most popular power train. A further 24,513 joined the road during last month, up 58.7% on May 2022 to secure a 16.9% market share.

Of the new cars registered in May, lower mediums, superminis and dual purpose were the most popular, comprising 86.3% of the market.

The industry body added: "There are now zero emission options available in every single segment of the market, with more than 80 models - around a quarter of all new car models available - from which to choose.

"Furthermore, these new BEVs have an average battery range of 236 miles, well in excess of UK drivers' average weekly mileage of around 100 miles."

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