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Last year, new car registrations fell to the lowest level since 1992

23 January 2023

Data provided by the Society of Motor Manufacturers and Traders (SMMT) shows that last year, new car registrations fell to the lowest level since 1992.

In 2022, 1.61million new cars were registered – 2 per cent less than in the previous 12 months and a quarter less than pre-pandemic levels. 

The SMMT suggests that supply chain issues, including the global shortage of semiconductor chips, is largely to blame for this reduction in registrations.

Key statistics include:

New battery electric cars took 17 per cent of the market share in 2022, surpassing new diesel registrations for the first time.
23 per cent of all new registrations were plug-in vehicles (both hybrid and pure electric), representing a record high.
Battery electric vehicles claimed their largest-ever monthly market share in December 2022 at 33 per cent – largely driven by Tesla registrations.

SMMT chief executive Mike Hawes said, “The complexities of global manufacturing have really been brought to bear heavily on the industry this past year.

 “The automotive market remains adrift of its pre-pandemic performance but could well buck wider economic trends by delivering significant growth in 2023”.

Contract hire and fleet management 

We at Marshall Leasing are always interested in the latest figures and news from the SMMT, and we trust you find this story helpful.

If you would like to find out more about how we can assist you in keeping your fleet drivers safe, please get in touch with us at info@marshall-leasing.co.uk or by calling 01480 414541. Alternatively, please complete our contact form. 

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