Figures from the The Society of Motor Manufacturers and Traders (SMMT) show that last months UK new car market declined by -29.5%. A total of 123,296 new cars were registered. Registrations for plug-in vehicles continued to grow.
The automotive sector continues to battle against shortages of semiconductors and staff, which is throttling our ability to translate a strengthening economic outlook into a full recovery. The next few weeks will see changes to self-isolation policies which will hopefully help those companies across the industry dealing with staff absences, but the semiconductor shortage is likely to remain an issue until at least the rest of the year. As a result, we have downgraded the market outlook slightly for 2021. The bright spot, however, remains the increasing demand for electrified vehicles as consumers respond in ever greater numbers to these new technologies, driven by increased product choice, fiscal and financial incentives and an enjoyable driving experience.Said Mike Hawes, SMMT Chief Executive.
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