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Deloitte comments on SMMT new car registration figures for May 2023

05 June 2023

Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte comments on new car registration figures from Society for Motor Manufacturers and Traders (SMMT):

“New car sales grew for the tenth consecutive month as consumers continue to switch to battery electric vehicles (BEVs). This follows reports that UK manufacturing has also continued to show an uptick in fortunes.

“However, there are looming headwinds including changes to product-specific rules of origin which will see additional tariffs placed on batteries and electric vehicles. As such, further efforts are needed to keep costs down for consumers.

“The UK has a proud history of automotive manufacturing with more than 182,000 people employed in manufacturing and some 780,000 in total across the wider automotive industry according to SMMT.

“To future-proof the sector, the BEV supply chain needs to be secured and facilitating the building of vehicle battery gigafactories, for instance, is an example of how the industry can become self-sufficient.”