The automotive industry believes it can achieve double-digit growth in 2023 as a global parts shortage begins to ease, enabling more models to be built.
putting huge pressure on household budgets, with some waiting lists extending beyond 12 months.
That meant it surpassed diesel for the first time to become the second most popular powertrain after petrol.Parts shortages have been a thorn in carmakers' tyres globally since the start of the COVID pandemic The SMMT forecast that new car registrations would rise by around 15% this year - reflecting the pent-up demand and easing of global supply chain difficulties which include the end of punitive COVID restrictions in China."Manufacturers have really struggled to be able to make the vehicles in sufficient quantities, primarily due to semiconductor shortages but there are other parts shortages behind that as well.
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