UK new car registrations stall in November
The UK new car market demand fell 27.4 per cent year-on-year, or 42,840 units, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). With sales hit by the UK’s second lockdown, the industry recorded 113,781 new registrations, taking trade back to levels last seen during the 2008 recession.
The decline was less severe than that seen during the first lockdown – when registrations fell by a record -97.3 per cent in April alone – largely because this time around, retailers and manufacturers were able to be better prepared to fulfil orders via delivery or click and collect. However, private demand still fell by -32.2% per cent. Fleets demand saw a decline of -22.1%
Nevertheless, market share for battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs) continued to grow, up 122.4 per cent and 76.9 per cent respectively. BEVs recorded their third highest ever monthly share of registrations at 9.1 per cent, while PHEV share increased to 6.8 per cent.
Mike Hawes, SMMT Chief Executive, rued the economic losses, but looked forward to 2021: “…with £1.3 billion worth of new car revenue lost in November alone, the importance of showroom trading to the UK economy is evident and we must ensure they remain open in any future Covid restrictions. More positively, with a vaccine now approved, the business and consumer confidence on which this sector depends can only improve, giving the industry more optimism for the turn of the year.”