Key Market Indicators
British car registrations saw a slight uptick in 2021, reaching approximately 301,000 units, a 3.1% increase from the 292,000 units recorded in 2020. Despite this modest rise, long-term trends paint a bleaker picture. Since 2010, British demand for new cars has plummeted by 35.5% year on year. In the global context, the United Kingdom ranked 41st in car registrations in 2021, as Bulgaria edged ahead with similar numbers. Leading the pack were Indonesia, Austria, and Belgium, securing the second, third, and fourth spots, respectively. Looking ahead, British car production is projected to decline. By 2028, it is expected to reach about 1.18 million units, down from an estimated 1.27 million units in 2023. This represents an average annual decrease of 1.1%. Historical data since 2002 shows a more pronounced downturn, with British car supply dwindling by 3.5% each year. In the 2023 global ranking of car production, the UK stood at 13th place, with Mexico surpassing it with a similar production figure. The top three spots were claimed by Japan, Germany, and India, respectively.
