UK’s Car Industry sees weakest March since 1998

New figures have shown that the UK’s Car Industry, has seen its worst sales during the month of March since 1998.

Only 243,479 new cars were registered last month, which is 14.3% less than March 2021 according to the Society of Motor Manufacturers and Traders (SMMT)

SMMT chief executive Mike Hawes has said that the figures are “deeply disappointing.” He stated: “While demand remains robust, this decline illustrates the severity of the global semiconductor shortage, as manufacturers strive to deliver the latest, lowest emission vehicles to eagerly awaiting customers. Placing orders now will be beneficial for those looking to take advantage of incentives and lower running costs for electric vehicles, especially as the Ukraine crisis could affect supply still further.”

“With increasing household and business costs, the Government must do all it can to support consumers so that the growth of electric vehicles can be sustained and the UK’s ambitious net zero timetable delivered.”

Sales of new petrol and diesel cars in the UK will be banned from 2030, in an attempt to reach net zero for carbon emission by 2050. A plan to increase public chargepoints for electric vehicles in the UK, from 30,000 to 300,000, was announced by The Department for Transport last month,

The editorial director of magazine and website What Car?, Jim Holder stated: “While it is evident and welcome that demand for low and zero emissions vehicles is growing at a fast pace, it is also clear that the uptake could be far greater if supply issues caused by the semiconductor computer chip shortage, and exacerbated by the war in Ukraine, weren’t having such a devastating impact on sales figures.”

“Recent hikes in energy prices and general costs of living are also posing a challenge.”

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.