Car industry suffers weakest March since 1998

The UK’s automotive business endured its worst March for new car gross sales considering that 1998, according to new figures.

Just 243,479 new cars have been registered last thirty day period, the Culture of Motor Companies and Traders (SMMT) claimed.

That is down 14.3% in contrast with March 2021.

It is the lowest March total since 1998, which was prior to the introduction of new quantity plates each individual March and September.

(PA Graphics)

(PA Graphics)

SMMT main executive Mike Hawes explained the figures as “deeply disappointing”, with March critical for the industry simply because it is commonly the busiest thirty day period of the 12 months as customers demand from customers the most up-to-date number plate.

He claimed: “While need remains strong, this drop illustrates the severity of the world wide semiconductor scarcity, as brands try to deliver the most up-to-date, lowest emission vehicles to eagerly awaiting clients.

“Placing orders now will be helpful for these hunting to take advantage of incentives and decrease running prices for electric vehicles, especially as the Ukraine crisis could influence offer still further more.

“With raising residence and business charges, Govt will have to do all it can to assist customers so that the advancement of electric vehicles can be sustained and the UK’s formidable internet zero timetable sent.”

(PA Graphics)

(PA Graphics)

The British isles has pledged to achieve internet zero for carbon emissions by 2050.

The aid reach this, revenue of new petrol and diesel cars and vans will be banned from 2030.

Last thirty day period the Division for Transport introduced a prepare to improve the amount of community electric powered automobile chargepoints in the United kingdom from 30,000 to 300,000 by that day.

A history 64,165 battery electric vehicles (BEVs) had been registered in March.

That is up 78.7% on the very same thirty day period in 2021, getting a 16.1% sector share.

More BEVs ended up registered previous thirty day period than through the entire of 2019.

Jim Holder, editorial director of magazine and web-site What Car?, said: “While it is obvious and welcome that demand for very low and zero emissions vehicles is developing at a fast rate, it is also very clear that the uptake could be considerably higher if provide issues brought about by the semiconductor laptop or computer chip lack, and exacerbated by the war in Ukraine, weren’t acquiring these a devastating effect on income figures.

“Recent hikes in electricity prices and general charges of living are also posing a problem.”