The UK car industry continued to demonstrate resilience and ongoing recovery in June 2023, as it recorded over 177,000 new registrations, representing a 25.8% year-on-year increase and marking an eleventh consecutive month of growth.
The recovery also continues in supply, with manufacturing output increasing by almost 27% in May, which was the fourth consecutive month of year-on-year growth. Although this demonstrates a sustained recovery for manufacturers and dealers after weathering many of the stubborn challenges from the pandemic and supply chain disruptions, the trend of fleet customers dominating the growth at 37.9% masks a weaker recovery for end consumers which increased by less than 15%.
The growth of Battery Electric Vehicle (BEV) sales continued with an increase of 39.4% in June, but the growth of BEV market share is starting to slow. In contrast, Plug-in Hybrid Electric Vehicles (PHEVs) had their most significant market share since February 2022 last month.
CT Automotive plc (LON:CTA) designs, develops and manufactures automotive interior finishes and complex kinematic assemblies for the most well-known automotive brands on the planet. These critical components are managed through an intricate global network of reactive supply chains to arrive JIT (Just in Time) at their respective OEM manufacturing plants.