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In Britain, car sales dropped by 44%

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In Britain, car sales dropped by 44%
April 06
13:00 2020

The statistics on the registration of new cars in the United Kingdom has become known. Analysts expected a decline, since the car showrooms were closed due to quarantine, but they didn’t disclose the figure. Now it is already known that the sales have fallen by 44.4%.

In March last year, 458 054 brand new cars were sold, in the same year this figure has been equal to 254 684 cars. This fall is the most significant since March 2009, when the global economic crisis was raging in the world. And even then, the sales fell “only” by 30.5%.

Experts cannot name the moment when the market will be able to draft out of the impasse. At the moment, the goal of the industry is to save jobs for a huge number of people employed in it.

The statistics for the first quarter of 2020 also became known. The sales (compared with the same period last year) have decreased by 31% and amounted to 483,557 units. Last year, the same indicator was 701,036 cars.

Also, the analysts have worsened their annual forecast; according to their estimates, 1.73 million new cars will be sold; this is 23% less than the previous estimate.

Car sales by engine type are as follows:

  • diesel engines – sold 44.8 thousand, the drop is 62%;
  • gasoline engines – sold 153 thousand, the fall amounts to 50%;
  • electric motors – sold 11.69 thousand, the increase tripled!

Things are even worse if we speak about the neighbors of the island state. In March, France suffered the loss of 72%, Italy – 85%, Spain – 69%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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