New car sales stalling

NEW car sales this year will be lower than previously thought as the cost-of-living squeeze and persisting chip shortages hit the auto market, data showed.

The Society of Motor Manufacturers and Traders (SMMT) said 2022 outlook for new cars registered has been cut to 1.72m from 1.89m forecast earlier. SMMT chief executive Mike Hawes said: ‘The worldwide semiconductor shortage continues to drag down the market.’

UK new car registrations fell about 16pc to 119,167 units in April, according to the latest figures by the SMMT, with electric vehicles making up nearly 28pc of the total.