New Car Registrations almost back to pre-pandemic levels in February

New car registrations in the UK in February 2023 rose, for the seventh month in a row, and are almost back to pre-Covid levels.

Despite ongoing supply chain shortages, ever-increasing car prices, the Covid-hangover, rising interest rates, and a general cost of living crisis, demand for new cars remains, and new car registrations continue to grow. 

February (2023) saw the seventh month of growth in a row for new car registration, with a jump of 26.2 per cent over 2022’s figure and just 6.5 per cent down on the pre-Covid numbers in February 2020.

Deliveries in February to private buyers rose by 5.8 per cent, but the big jump was in fleet registrations which were up by 46.2 per cent – a similar rise to last month.

Vauxhall took the two top spots for registrations with the Corsa and Mokka, followed by the Ford Puma, Nissan Juke and Hyundai Tucson, with the only EV in the top ten the Tesla Model Y in sixth place.

Despite that, BEV registrations rose by 18.2 per cent for a 16.5 per cent market share (actually down by 1.2 per cent on 2022), with HEVs up by 40 per cent and petrol by 35.8 per cent for a 56.9 per cent market share.

Mike Hawes, SMMT Chief Executive, said:

After seven months of growth, it is no surprise that the UK automotive sector is facing the future with growing confidence. It is vital, however, that government takes every opportunity to back the market, which plays a significant role in Britain’s economy and net zero ambition.

As we move into ‘new plate month’ in March, with more of the latest high-tech cars available, the upcoming Budget must deliver measures that drive this transition, increasing affordability and ease of charging for all.