UK Car Sales Increased by 23.5% in November despite Looming 2023 Recession

The number of new car registrations increased by almost a quarter in November 2022, marking the fourth consecutive month of growth in the UK’s new car market. According to the Society of Motor Manufacturers and Traders (SMMT), the number of new car registrations increased by 23.5% in November 2022 to 142,889 units.

Despite low supplies of global components, automobile manufacturers continue to produce vehicles, resulting in the highest November sales total since 2019. Over 27% of new registrations have been for plug-in electric vehicles, and in 2022, battery electric vehicles (BEVs) will have the largest monthly share of the new car market.

Year-over-year, sales of cars powered by gasoline increased by 15%, while diesel sales decreased by more than 5%. The SMMT is urging the UK government to invest more in the development of electric vehicle charging infrastructure.

Mike Hawes, CEO of SMMT, said that the recuperation for UK’s new vehicle market is back inside their control, stimulated by jolted vehicles, and the versatility of the auto business even with monetary and supply difficulties.

Mike Hawes went on to say that in order for the industry to ensure that the growth continues for a longer period of time, some urgent measures are needed, as well as other measures to compel investment in a charging network that was developed ahead of time.