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New car market stabilises after five months of decline

F

ive consecutive months of decline in the new car market was halted in August, new figures show.

Registrations of new cars increased by 1.2% last month compared with August 2021, according to the Society of Motor Manufacturers and Traders (SMMT).

Some 68,858 new cars were registered in the first monthly growth since February.

Sales of new cars during the year so far are 35.3% down on the same period in the pre-pandemic year of 2019.

August is traditionally one of the quietest months of the year for the industry as many buyers choose to wait for new number plates to be released in September.

The uptake of pure electric new cars is slowing.

Year-to-date registrations are up 48.8%, compared with 101.9% at the end of March.

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