New car market increased by 14.3% in October

Some 153,529 new cars were registered last month, up from 134,344 in October 2022, the Society of Motor Manufacturers and Traders said.

But the forecast for registrations of pure battery electric new cars this year has been downgraded from 440,000 to 439,000.SMMT chief executive Mike Hawes said: “With demand for new cars surpassing pre-pandemic levels in the month, the market is defying expectations and driving growth. “Doing so would send a clear signal of support for drivers, reassuring them that now is the time to switch to electric.”

“If calls for delays to the rules of origin requirements are heeded, we can hope to see some significant growth in private new electric car sales over the coming months.”

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