Car industry suffers weakest March since 1998

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The UK’s automotive marketplace experienced its worst March for new car or truck gross sales due to the fact 1998, in accordance to new figures.

Just 243,479 new autos were registered very last thirty day period, the Modern society of Motor Companies and Traders (SMMT) claimed.

That is down 14.3% when compared with March 2021.

It is the lowest March total considering that 1998, which was prior to the introduction of new variety plates every March and September.

(PA Graphics)

(PA Graphics)

SMMT chief government Mike Hawes described the figures as “deeply disappointing”, with March critical for the field due to the fact it is typically the busiest thirty day period of the 12 months as customers demand the latest number plate.

He explained: “While demand from customers remains robust, this drop illustrates the severity of the world wide semiconductor lack, as manufacturers strive to deliver the most up-to-date, lowest emission vehicles to eagerly awaiting prospects.

“Placing orders now will be useful for those people hunting to consider benefit of incentives and decrease functioning fees for electric cars, specially as the Ukraine crisis could affect source however more.

“With growing domestic and business enterprise costs, Government must do all it can to assistance consumers so that the progress of electric autos can be sustained and the UK’s formidable net zero timetable delivered.”

(PA Graphics)

(PA Graphics)

The British isles has pledged to attain web zero for carbon emissions by 2050.

The support realize this, gross sales of new petrol and diesel automobiles and vans will be banned from 2030.

Final thirty day period the Section for Transport announced a strategy to raise the quantity of general public electric car or truck chargepoints in the United kingdom from 30,000 to 300,000 by that day.

A report 64,165 battery electric motor vehicles (BEVs) have been registered in March.

That is up 78.7% on the identical month in 2021, having a 16.1% marketplace share.

Much more BEVs have been registered last thirty day period than all through the entire of 2019.

Jim Holder, editorial director of magazine and internet site What Auto?, stated: “While it is apparent and welcome that need for reduced and zero emissions vehicles is escalating at a quickly pace, it is also crystal clear that the uptake could be much increased if supply difficulties prompted by the semiconductor computer system chip lack, and exacerbated by the war in Ukraine, weren’t having these kinds of a devastating impact on product sales figures.

“Recent hikes in vitality costs and standard charges of living are also posing a problem.”

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