SMMT new car registrations – “there’s cause for optimism in the new car market”
John Cassidy, director of sales at Close Brothers Motor Finance, commented: “Despite a slight dip in new registrations, there’s cause for optimism in the new car market. Electric vehicles (EVs) are increasingly grabbing a larger share as private demand finally begins to rise. And the return of grants for new EVs should tempt even more consumers to make the switch.
“Alongside the influx of vehicles from Chinese manufacturers, a far broader range of choice – at more affordable price points – is likely to accelerate the move away from traditional combustion-engined powered cars. This will begin to make the government’s plans to eventually ban new petrol and diesel cars far more feasible – but it is only a piece of the puzzle. The government must match this incentive with strong investment in the UK’s charging infrastructure to make sure it can handle widespread adoption, which remains a key barrier holding many consumers back.”