New car market grew by nearly 18% in 2023
The number of new cars registered in the UK grew by around 17.9% last year, new figures show.
Some 1.9 million new cars were registered in 2023, according to data from the Society of Motor Manufacturers and Traders (SMMT).
Mike Hawes, chief executive of the SMMT, described the increase as “a very positive result”, particularly considering the “relatively negative economic backdrop”.
The rise from 2022 was driven entirely by businesses investing in large fleets (up 38.7% year-on-year), with demand from private consumers remaining stable at around 818,000 units.
Mr Hawes said the lack of growth in private registrations was “no surprise” amid increases in the cost
