Overview
- New registrations fell 12.3% in May to 123,919 vehicles, marking the fifth straight month of decline and an 8% drop year-to-date.
- Electric vehicle registrations stagnated at roughly 18% of sales in the first five months, down about 7% from 2024, with Tesla plunging 67% in May.
- Hybrid models expanded their market share from 30% in 2024 to 45% in 2025 as consumers seek less costly alternatives.
- Used car sales inched up 0.3% in May but failed to offset the slump in new-car demand.
- Industry leaders attribute the downturn to economic uncertainty, significant cuts in government EV incentives and low household confidence following US trade tensions.