Motor Trade Insurance

March Sees Reduced New Car Sales

April 14, 2022 by mti

Motor traders involved in the sale of new cars will be aware that March is usually a particular busy month with the new plate coming out but according to figures published by the Society of Motor Manufacturers and Traders (SMMT) March 2022 was the lowest on record since back in March 1998.

In March 2022 there was a total of 243,479 new cars registered here in the UK compared to 283,964 in March 2021. That is a huge reduction of 14.3%. There were 137,236 new cars sold for the private sector in March this year compared to 126,854 in March 2021 – a rise of 8.2%. There were 99,338 new cars sold for the fleet market in March 2022 compared to 151,355 in March last year – a huge drop of 34.4%. There were 6,905 new cars sold in March 2022 for the business sector compared to 5,755 in March 2021 – a rise of 20%.

On a year to date basis to March 2022 there was a total of 417,560 new cars sold compared to 425,525 in March 2021 – a fall of 1.9%.

One of the reasons for the reduction is due to a shortage in the supply of semiconductors.

It is interesting to hear that electric vehicles accounted for just over 34% of new cars sold.

The top 5 selling new cars in March 2022 in the UK were: –

  1. Tesla Model Y                        8,464
  2. Tesla Model 3                        6,457
  3. Vauxhall Corsa                       5,515
  4. Nissan Qashqai                      5,401
  5. HyundaiTucson                      4,876

The top 5 selling new cars in the year to date to March 2022 in the UK were: –

  1. Vauxhall Corsa                        9,797
  2. Kia Sportage                           8,697
  3. Ford Puma                              8,528
  4. Hyundai Tucson                      7,889
  5. MINI                                       7,860

It is to be hoped that an improvement is seen in the sale of new cars here in the UK in the coming months. Such sales impact on other sectors of the motor trade industry such as the supply of new parts, servicing of vehicles and the sale of used cars.

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