UK’s new car registrations down 48.5 percent in H1

Tuesday, 07 July 2020 17:54:42 (GMT+3)   |   Istanbul
       

According to data released from the UK-based Society of Motor Manufacturers and Traders (SMMT), new car registrations in the UK amounted to 145,377 units, down 34.9 percent year on year, showing an improvement compared to the 89 percent year-on-year decline in May. The decrease is attributed to uncertain economic confidence and the delayed re-opening of showrooms in Wales and Scotland following over two months of lockdown caused by the coronavirus pandemic. Showrooms were allowed to re-open in England on June 1, in Wales on June 22, and in Scotland on June 29.

Meanwhile, in the January-June period of this year, the UK’s new car registrations declined by 48.5 percent year on year to 653,502 units, the lowest level since 1971.

SMMT chief executive Mike Hawes said, “The government must boost the economy, help customers feel safer in their jobs and in their spending and give businesses the confidence to invest in their fleets. Otherwise it runs the risk of losing billions more in revenue from this critical sector at a time when the public purse needs it more than ever.”

According to SMMT, the automotive retail sector with a £200 billion turnover provides jobs for over 590,000 employees and is one of the UK’s most valuable economic assets.