Overall registrations remain under great pressure, but the latest new car sales figures point to another bumper month for electric vehicles. Meanwhile, diesel-fuelled internal combustion engine vehicles have taken the biggest hit. There are also signs that vehicle ownership preferences are changing. But what does this mean for the shape of the car market that feeds aftermarket tyre sales?
Following the news that UK new car registrations were up 11.3 per cent year-on-year in July, Michael Woodward, UK automotive lead, Deloitte, cautiously suggested the figures point towards a speedy recovery:
Following the SMMT’s June round of car registrations figures, analyst Deloitte wonders if there is cause to think a UK automotive landmark has passed. While much of the focus has been on the historic depths the country’s car sales have hit, the proportional demand for hybrid and electric vehicles has continued to rise at pace. Michael Woodward, UK automotive lead, Deloitte, said: “The automotive industry is taking positive steps towards recovery from the impact of COVID-19. Socially-distanced showrooms have been reopened in England for a full month, and factory production is ramping up again, in some cases faster than expected.
Analysts have commented on the “unsurprising” news that UK new car sales have plummeted to depths not seen for 70 years in April. Automotive industry observers at Deloitte and KPMG looked to the future, suggesting cautiously that the reopening of showrooms could provide opportunities for consumers, while suggesting that sales digitisation could be important for dealers.
Although UK monthly new car registrations in April were lower than since the days of postwar petrol rationing, there is at least some optimism that the automotive industry will benefit from one aspect of the COVID-19 crisis. With social distancing and fear of contagion part of the ‘new normal’, mistrustful commuters may shun public transport in favour of private cars.
UK new car registrations declined -6.7 per cent last month, according to figures from the Society of Motor Manufacturers and Traders (SMMT). 10,348 fewer cars were registered than in October last year, reflecting a tough environment for businesses and consumers as economic and political uncertainty continued to impact confidence.
Commenting on yesterday’s new car registration figures – which showed registrations of battery electric vehicles (BEVs) increasing 158 per cent year-on-year in July despite the wider downward trend – Deloitte opines that a ‘tipping point’ between combustion and electric vehicles will occur in the UK by 2021.
Commenting on Deloitte’s recent research suggesting strong growth in the electric vehicle market, Steve Jones, Strategy and Transformation Director at LeasePlan UK, said: “Although this new report is extremely promising, the UK’s contribution to this global number is likely to be minimal.
Deloitte’s latest electric vehicle (EV) research shows the pace of global EV adoption, rising from two million units in 2018, to four million in 2020, 12 million in 2025, before rising to 21 million in 2030. By 2030, Battery Electric Vehicles (BEVs) will significantly outperform the rest of the EV market, accounting for 70 per cent of total EV sales.
When Blackcircles.com appointed two new directors in early November, it was about more than simply expanding the range of experience available to the firm. It was also about driving the company’s international expansion plans forward. Tyres & Accessories recently caught up with founder and managing director Mike Welch in Edinburgh and found out more about […]
Following the news that Blackcircles.com opened its fourth PitStop Click&Fit tyre bay in Glasgow at the end of June, Tyres & Accessories spoke with the company’s founder and managing director Mike Welch in order to find out more about the company’s plans and hints that it is courting investment this year.
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