The U.K new car market fell by -44% in March – according to the Society of Motor Manufacturers and Traders (SMMT). A total of 254,684 new cars were registered for March 2020. This really hasn’t been a total surprise with car manufacturers suspending production and new car dealerships closing (or closed) across the country from the effects of COVID-19. Some good news for the industry is that alternatively fuelled car registrations rose to 11,694, while plug-in hybrids (PHEV’s) grew a massive 38%. The best selling car for March 2020 was the Volkswagen Golf followed by the Ford Fiesta.
With the country locked down in crisis mode for a large part of March, this decline will come as no surprise. Despite this being the lowest March since we moved to the bi-annual plate change system, it could have been worse had the significant advanced orders placed for the new 20 plate not been delivered in the early part of the month. We should not, however, draw long term conclusions from these figures other than this being a stark realisation of what happens when economies grind to a halt.
How long the market remains stalled is uncertain, but it will reopen and the products will be there. In the meantime, we will continue to work with government to do all we can to ensure the thousands of people employed in this sector are ready for work and Britain gets back on the move.”
Said Mike Hawes, SMMT Chief Executive.
New car figures from the SMMT below.
Keep safe everyone!!