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Car sales fell by a quarter, but electric cars are ahead

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New car sales fell by a quarter last month as global semiconductor shortages and soaring fuel costs continued to wreak havoc on the industry.

Registrations fell 24.3% to 140,958 in June, the weakest June since 1996, according to the latest figures from trade body the Society of Motor Manufacturers and Traders (SMMT).

However, the sale of a battery electric vehicles continued to grow with 14.6% growth to 22,737, or 16.1% of the market. This time last year, their market share was just 10.7%.

In contrast, sales of plug-in hybrids fell by more than a third to 7,714 and a market share of just 5.5%.

In total, plug-in vehicles accounted for more than a fifth of new cars that hit the road in the month.

SMMT Chief Executive Mike Hawes said: “The semiconductor shortage is stifling the new car market even more than last year’s lockout.

“Demand for electric vehicles continues to be the only bright spot as more electric cars than ever hit the road, but while this growth is welcome, it is not yet enough to offset weak overall volumes, which has huge implications for fleet renewal and our ability to meet our overall carbon reduction targets.

“Motorists face rising fuel prices, however, the transition to electric vehicles is becoming increasingly sensible and the industry is working hard to improve supply and prioritize the supply of these new technologies, given the savings they can offer drivers.”

Car sales fell by a quarter, but electric cars are ahead

Source link Car sales fell by a quarter, but electric cars are ahead

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