Car Sales in UK plunge 97% YoY in April 2020
New car registrations in UK plunge to the lowest level since 1946!
As per UK Industry body SMMT (Society for Motor Manufacturers and Traders), only 4,321 cars were registered in UK which is the lowest monthly level since 1946. April 2020 witnessed a 97% drop in sales when compared to the same month last year. Similar to India; even UK had announced a nation wide lockdown in Apr’20 and the closure of car dealerships during the lockdown has hit consumer registrations severely. Majority of the 4,321 cars sold in Apr’20 were needed to support key workers and for those who had a pressing need for them, as per an SMMT spokesman.
Even during the lockdown, BEV (Battery Electric Vehicles) registered the minimum degrowth. BEV segment degrew -9.7% in Apr’20 v/s Apr’19 while the overall Industry degrew -97.3% YoY. Also Tesla Model 3 contributed to 48% of the PEVs sold in UK in Apr’20. Tesla Model 3 was also UK’s best selling car for April 2020! Tesla Model 3 alone contributed to over 15% of car sales in UK. Jaguar’s i-Pace came in second with sale of 367 units.
Basis the sales slump; Society of Motor Manufacturers and Traders (SMMT) is urging the government to allow car showrooms to reopen once the lockdown starts to lift. Sector calls for auto retail to be in first wave of re-openings, to drive manufacturing and kick-start economic recovery. The latest SMMT outlook expects 1.68 million new car registrations this year, the lowest since 1992.