Aftermarket May 2022

NEWS Despite battery electric vehicles making up 16.1% of all new car sales in March, the most recorded in a single month, overall sales were actually down 14.3%, making it the worst March since 1998, prior to the advent of two-plate changes per year, according to the latest figures from the SMMT. Positively, private buyer sales were up by 8.2%, although March 2021 was still the era of shuttered showrooms due to ongoing lockdown restrictions. However, fleet registrations were down 34.4%. 39,315 BEVs were sold during the month, up 78.7% on last year. In fact, more were registered in March 2022 than during all of 2019, and the top two sellers for the month were both Tesla models. In total, 34.1% of all new cars sold in March were electrified in some way. Usually, 20% of all new car sales take place in March, but according to SMMT Chief Executive Mike Hawes, ongoing supply issues are hurting the market: “March is typically the biggest month of the year for the new car market, so this performance is deeply disappointing and illustrates the severity of the global semiconductor shortage.” Noting the fact that the Tesla Model Y was the top seller for March, closely followed by the Tesla Model 3, John Wilmot, CEO of car leasing comparison site LeaseLoco said: “For the first time ever, the two best selling cars were electric. As the electric car revolution gathers pace this is likely to become commonplace as more people have the confidence to switch.” He added: "The problem is going to be whether the government can meet the challenge head-on by delivering on a charging infrastructure that is fit-for-purpose, and is able to handle a significant ramp up in demand." For more on the issue of EV charging infrastructure, turn to Big Issue on pages 8-11. 4 AFTERMARKET MAY 2022 www.aftermarketonline.net Weakest March for new car sales since 1998, but EVs way up Charge up EV stock, car dealers urged Used car dealers are being advised to have EVs making up 10% of their stock, ahead of an expected surge in demand. Tim Maffey, Finance Director at V12 Vehicle Finance said: “If there is one piece of advice we’d give to used car dealers, then it would be to picture a world where EVs will be commonplace and to start future-proofing now. At the moment, dealers aren’t selling many used EVs because there aren’t many on the market, but this won’t be the case for long.” He added: “We would suggest that forward-thinking dealers look to start with between 5% and 10% of their stock being EV now. Just having one unit doesn’t give their customers much confidence, and confidence is key.”