New UK Car Registrations Sunk To 30-Year Low In 2020

New UK Car Registrations Sunk To 30-Year Low In 2020. image: pixabay

NEW UK Car Registrations Sunk To 30-Year Low In 2020 according to the latest trade report

The Society for Motor Manufacturers and Traders (SMMT) has revealed that 2020 returned the biggest fall in car sales in a single year since World War Two when factories were turned over to military production.

Only 1.63 million new cars were registered in 2020, compared with 2.3 million in 2019, a 29 per cent decrease, and the lowest figure since 1992.

Mike Hawes, chief executive of the SMMT said the bulk of lost sales were during the first Spring lockdown when all factories shut down, and car showrooms were forced to close, commenting, “We lost half a million units from March, April, May, and we never recovered them”.

He continued, “We can still do click and collect, which is important, because that’s the very minimum we need, not just to keep retail going, but also to keep manufacturing going”, and he estimates the pandemic has cost £20bn to the motor industry, and around £2bn in VAT losses.

The ongoing pandemic was seen as a major problem for and turnaround in sales in 2021, and Mr Hawes thinks the Brexit trade deal with the EU came as a ‘massive relief’ to the car industry, where car parts, and cars, can continue to move between the UK and the EU, without tariffs, or taxes being imposed, provided certain conditions are met.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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