![]() ![]() The zero emission transition will also continue, albeit at a slightly slower pace. Next year, the expectation is for 1.89 million registrations – not a full recovery, admittedly, but a significant improvement on the past two years. Cumulatively, it will mean that around two million registrations – roughly a year’s worth – will have been lost since the start of the pandemic. Clearly it would require extraordinary growth in the rest of this year to recover the losses sustained so far, which is why the industry outlook has been revised downwards accordingly to 1.6 million new car registrations in 2022, as the sector faces its most challenging year for three decades. ![]() Order books remain strong, however, and supply issues are expected to start receding, but this issue is going to be with us into 2023 and likely 2024. Stymied production inevitably means strained availability of new vehicles to meet demand. ![]() Semiconductor shortages continue, and their severity has been exacerbated by Covid lockdowns in key manufacturing and logistics centres in China, while the war in Ukraine has disrupted the global industry on top of its terrible humanitarian impact. This is the fifth consecutive month of decline, although it is the smallest such fall recorded this year.Ĭlearly, the first half of 2022 has been more challenging than expected. The latest figures published this week show that new car registrations fell by -9.0% in July as global supply chain shortages continue to frustrate order fulfilment. While weather-wise it has been a scorching month for Britain, the new car market has been feeling the drought in registrations for far longer. ![]()
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