The Society of Motor Manufacturers and Traders (SMMT) has reported a 97.3% fall in new car registrations for April due to the coronavirus showroom closures. Only 4321 new cars were registered in the month. Following this fall the SMMT has now revised its expectations for new car registrations down to 1.68 million which is the lowest since 1992.
Mike Hawes, SMMT Chief Executive, said, “With the UK’s showrooms closed for the whole of April, the market’s worst performance in living memory is hardly surprising. These figures, however, still make for exceptionally grim reading, not least for the hundreds of thousands of people whose livelihoods depend on the sector. A strong new car market supports a healthy economy and as Britain starts to plan for recovery, we need car retail to be in the vanguard. Safely restarting this most critical sector and revitalising what will, inevitably, be subdued demand will be key to unlocking manufacturing and accelerating the UK’s economic regeneration.”