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Deloitte comments on SMMT new car registration figures for June 2023

05 July 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)

“Car sales in June went up by 26% year-on-year against a low base as June 2022 saw constraints on production due to the global semi-conductor shortage.

“The first half of 2023 has already seen growth of 18% but the industry faces an uphill challenge for the rest of the year around affordability. Rising interest rates are impacting the cost and availability of car loans for consumers.

“Electric vehicle sales were up again this month, capturing 18% of the market. Against the continued backdrop of the cost-of-living crisis, the perceived high cost of battery electric vehicles (BEVs) could also have an impact on demand. However the increasing choice and availability of models could help consumers make the switch to electric.”