LSE: 687.40 GBP -4.40 (-0.64%)
05 October 23 Press releases

New car commentary | October 2023

Ian Plummer, Commercial Director of Auto Trader, the UK’s largest digital automotive marketplace, commented on the figures:


Despite Rishi Sunak’s confidence-denting announcement last month, the electric share of the new car market is still going strong and it’s great to see overall new car sales growing as supply returns to the market. However, with three quarters of all new electric vehicles now enjoying some kind of offer, it’s clear that manufacturers are using price to stimulate demand in retail channels now that the supply issues of the last few years are in the rearview mirror.

Key spokesperson

Ian Plummer

Commercial Director


“Facing the, for some, ambitious Zero Emission Vehicle mandate - which did not change for cars amidst recent announcements - it’s likely that many manufacturers will become even more reliant on using price as a lever as they attempt to stimulate enough demand to reach the government-mandated 22% of new car sales by the end of 2024. Whilst the overall market is at around 16% for 2023 so far, many manufacturers will be further behind and may be forced to buy credits from all-electric new market entrants such as BYD, GWM, Tesla and Polestar or face hefty fines.”


Up next
Auto Trader data to power Office for National Statistics' official measures of inflation
Read More
Retailers embracing digital are reporting more sales, more efficiency and more satisfied customers
Read More
Auto Trader is first FTSE 100 to achieve Gold Carbon Literacy status
Read More

Stay up to date

Follow us on our social channels to keep up with the latest news, insights and company developments.


If you would like to be added to our News & views mailing list, or have any media-related enquiries, please contact our press team:

Auto Trader UK

Auto Trader Insight

Auto Trader Life

Other Group sites

Looking to join the team?


Looking to buy or sell a vehicle?


Keep in touch

Sign up to our email alerts service:

RNS alerts

Join our news & views mailing list
or submit media-related enquiries:

Contact our press team
  • @2024 Auto Trader Group plc. Registered in England with company number: 09439967.