New car registrations fell -34% in June. This is according to new data released today by the Society of Motor Manufacturers and Traders (SMMT). This is better news as it an improvement from May’s -89% decline.Year to date new car registrations are down -48.5% with 653,502 new cars registered in the first six months of this year. This six month figure currently represents the lowest amount of new car registrations recorded since the year 1971.
While it’s welcome to see demand rise above the rock-bottom levels we saw during lockdown, this is not a recovery and barely a restart. Many of June’s registrations could be attributed to customers finally being able to collect their pre-pandemic orders, and appetite for significant spending remains questionable.
Said Mike Hawes, SMMT Chief Executive.
The government must boost the economy, help customers feel safer in their jobs and in their spending and give businesses the confidence to invest in their fleets. Otherwise it runs the risk of losing billions more in revenue from this critical sector at a time when the public purse needs it more than ever.”
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