Technical Analysis

UK – new car registrations rose 18% in December, 5th consecutive month of growth

From the Society of Motor Manufacturers and Traders (SMMT) in the UK.

said new car registrations fell 2% to 1.61 million units in 2022, new car sales lowest since 1992

about 700,000 units below the pre-pandemic total hit in 2019

for December alone though, +18%

SMMT citing:

  • shortages of parts over the last two years, in particular semiconductor chips
  • rising inflation and a cost-of-living crisis

SMMT expect 2023 to be much better, projecting new car sales could grow 15% in 2023 as supply-chain issues ease:

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