Automotive Employment
Blog Img

March 2023 New Vehicle Registrations Solid but down on March 2022

Back to News Hub

Motor Industry Association Principal Technical Adviser Mark Stockdale says that March 2023 registrations were down 23.8% (5,007 units) on March 2022, noting that March 2022 registrations were the highest on record due to the pending Clean Car Discount fees for light commercial vehicles.

 

Registrations of 11,626 passenger and SUVs were up 4% (444 units) on March 2022, however registrations of 4,371 commercial vehicles were down 55.5% (5,451 units) on last March.

 

Registrations of new battery electric vehicles were strong led by the Tesla Model Y and BYD Atto 3. Registrations of non-plugin hybrids remain strong.

 

Year-on-year comparisons illustrate the effect government policy can have in changing purchaser behaviour. March 2022 light commercial vehicles sales were the strongest ever, but have since struggled to regain strong performance with the impact of the CCD fees most of these vehicles now attract, says Mark Stockdale.

 

 

Key points

 

·                March 2023 registrations of new vehicles were 23.8% down (5,007 units) on March 2022.

 

·                There were 2,656 BEVs, 515 PHEVs and 2,503 hybrid vehicles registered in March.

 

·                The trend to the smaller end of vehicle size continues with 60% of vehicles registered for the month being medium or smaller.

 

·                The Ford Ranger, followed by the Toyota Hilux and then the Tesla Model Y were the top three models for the month.

 

·                There were 762 registrations of heavy commercial vehicles for the month of March.

 

 Market leaders in March / 2023

Toyota retained the overall market lead for the month of March with 17% market share (2,650 units), followed by Ford with 11% (1,714) units and Hyundai with 8% market share (1,256 units). Kia came in one unit behind Hyundai.

 

BEVs, PHEVs and Hybrids

There were 2,637 light passenger vehicle BEVs and 18 light commercial plus 1 heavy commercial vehicle BEVs registered in March. The top models were the Tesla Model Y (761 units) followed by the BYD Atto 3 (617 units) and the MG ZS (307 units).

 

There were 515 PHEV’s registered for the month of March. The top models were the Mitsubishi Eclipse Cross (176 units) followed by the Kia Sorento (131 units) and the MG HS (31 units).

 

Registrations of Hybrid vehicles (HEVs) were strong with 2,503 vehicles registered in March. The top models were the Toyota RAV4 (455 units), followed by the Honda Jazz (245) and the Suzuki Swift (211 units).

 

 

SUV and passenger vehicle sales March / 2023

Toyota regained the market lead for passenger and SUV registrations in March with 14% market share (1,578 units) followed by Kia also with 11% (1,255 units) and then Hyundai with 10% market share (1,281 units).

 

The top selling passenger and SUV models for the month were the Tesla Model Y (761 units) followed by the Hyundai Tucson (648 units) and the BYD Atto 3 (617).

 

 

Commercial vehicle sales March / 2023

For the month of March, Ford regained the market lead with 33% market share (1,439 units) followed by Toyota with 25% (1,072 units) and Mitsubishi third with 7% market share (306 units).

 

The top models for the month of March were the Ford Ranger (1,333 units), followed by the Toyota Hilux (834 units) and the Mitsubishi Triton (304 units).

 

 

Segmentation – What Are Consumers Buying

 

The tops spots were the SUV medium segment with 31% share followed by SUV compact vehicles with 18% then the Pick Up/Chassis 4x4 segment with 13% market share.

 

The small to medium segments comprised 60% of the total market.

Explore our news and events

View all articles