The market for new cars has now experienced its longest monthly growth period year-on-year growth since 2015. This is according to recent data from the Society of Motor Manufacturers and Traders (SMMT).
Some 16.7% more new cars were registered in May compared to the same month in 2022. Despite private sales falling slightly, a 36.9% increase in registrations for large fleets helped drive the increase. Some 41.2% of new registrations were for petrol-only vehicles, while battery electric registrations saw a 58.7% year-on-year increase to become the second biggest vehicle type. Various forms of hybrid vehicles also grew in popularity as buyers sought alternatives to going fully electric.
Mike Hawes, the chief executive of the SMMT, welcomed the news that the industry continued to recover from the supply issues that have plagued the industry in recent years, especially as that growth is being increasingly accounted for by greener vehicles. He added:
“Transforming the market nationwide, however, and at an even greater pace means we must increase demand and help any reticent driver overcome any concerns about electric vehicles. This will require every stakeholder—industry, government, chargepoint operators and energy companies—to play their part, accelerating investment to drive decarbonisation.”
With vehicle fleets becoming an increasing mix of petrol, diesel, hybrid, and electric vehicles, managing their lubricant needs may seem increasingly daunting. At TrAchem, we supply fluids and greases from a range of brands, so whether you need the Shell Rimula heavy-duty engine oil or the Mobil ATF transmission fluid, we can always meet your needs.