The number of new cars registered grew 28% in July, compared to a year earlier, in the seventh month of growth this year, according to data from the SMMT
UK car sales have grown all year, despite borrowing becoming more expensive and a cost of living crisis creating difficult financial conditions for consumers.
The number of new cars registered grew 28% in July, compared to a year earlier, in the seventh month of growth this year, according to data from the Society of Motor Manufacturers and Traders . But despite the increase last month, new registrations are still below historical trends and the outlook for next year has been downgraded.
The July 2023 growth was sizeable because of the extent of contraction last year - new registrations in July 2022 were at the lowest level across the 16 years from 2006. Latest SMMT data showed more orders were able to be fulfilled and production increased as supply chain woes that plagued the pandemic years have unwound, the SMMT said., which may be using cookies and other technologies. To show you this content, we need your permission to use cookies. You can use the buttons below to amend your preferences to enablecookies or to allow those cookies just once.
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