Despite the British summer weather looking rather bleak, July’s new car and van registrations were anything but. SMMT Chief Executive, Mike Hawkes, reveals the month wrapped up an entire year of non-stop growth in the new car market, while van deliveries reached their highest July level since 2020.[/vc_column_text][/vc_column][/vc_row]
Electrified performance also impressed, with hybrids, plug-in hybrids and battery electric vehicles accounting for more than a third of the new car market. The demand for battery electric cars was such that a new one was registered every 60 seconds in the month. Furthermore, according to the latest market outlook published today, this will accelerate to one every 50 seconds by the end of the year, and up to one every 40 seconds by the end of 2024. July has also been positive for battery electric vans, which saw registrations skyrocket 93.6% to achieve a 5.5% market share.
[Source – SMMT. 04 August 2023 . Summer of highs for the new car and van market – SMMT]
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