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Highlights
- The UK saw sales of only over 1.6 million new cars in the past year, as per SMMT.
- Nevertheless, there was a boost in the UK’s car industry, with car owners continuously moving away from diesel and petrol vehicles towards battery-powered EVs.
- EV sales hit their greatest-ever market share monthly in December, accounting for nearly one-third of the overall new car sales.
Sales of electric vehicles (EVs) in the UK have spiked to record-high levels, even though supply chain issues have driven the overall new car sales to their minimum in three decades. As per the latest annual sales figures released by the Society of Motor Manufacturers and Traders (SMMT), the UK saw sales of only over 1.6 million new cars in the past year, which indicates a 2% drop against 2021. This is the lowest level of sale seen since 1992.
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Nevertheless, there was a boost in the UK’s car industry, with car owners continuously moving away from diesel and petrol vehicles towards battery-powered EVs in huge numbers. EV sales hit their greatest-ever market share monthly in December, accounting for nearly one-third of the overall new car sales. All through last year, almost 17% of the total car sales were represented by EVs. For the first time, the sales of new diesel cars were exceeded by EV sales.
The standout electric performer was Tesla, and its Model Y was the top-selling EV, which jumped to the third position on Britain’s Top 10 bestsellers list. Most EV sales were driven by fleets and business buyers, representing nearly two-thirds of the total number of registrations. Taking all this into account, Kalkine Media® here explores three automotive stocks investors can keep an eye on in January.
Pendragon plc (LON: PDG)
The annual and YTD (year to date) returns offered by the country’s second-largest motor retail group, Pendragon plc, stood at -20.37% and -4.61%, respectively, as of Thursday. On the day, at around 12:30 PM (GMT), PDG shares saw a 2.22% hike, trading at GBX 18.40. With an EPS (earning per share) of 0.04 and a market capitalisation of £251.45 million, Pendragon’s turnover (on book) stood at £51,658.68.
Lookers plc (LON: LOOK)
The annual and YTD returns offered by the prominent car dealership chain, Lookers plc stood at -21.10% and 6.96%, respectively, as of Thursday. On the day, at around 12:30 PM (GMT), LOOK shares saw a 1.21% fall, trading at GBX 81.50. With an EPS of 0.16 and a market capitalisation of £319.02 million, Lookers’ turnover (on book) stood at £65,257.39.
Motorpoint Group Plc (LON: MOTR)
The annual and YTD returns offered by the leading e-commerce-based retailer of omnichannel automobiles, Motorpoint Group Plc, stood at -56.76% and -0.69%, respectively, as of Thursday. On the day, at around 12:30 PM (GMT), MOTR shares saw a 1.38% fall, trading at GBX 143.00. With an EPS of 0.08 and a market capitalisation of £138.78 million, the group’s turnover (on book) stood at £2,074.85.
