New automobile registrations within the UK dropped by 29.4 per cent in 2020, representing the hardest yr for the automotive market since 1992.
The decline has been showcased by figures launched at this time (Jan 6) by the Society of Motor Producers and Merchants (SMMT). They reveal that total registrations fell to 1.63 million through the yr, with demand down by 680,076 automobiles over 2019.
A decline of 10.9 per cent in December rounded off an especially turbulent 12 months for the UK’s automotive sector, as Covid-related restrictions, an acceleration to the top of sale date for petrol and diesel automobiles and Brexit uncertainty all hampered gross sales.
In whole, the decline noticed the trade undergo a complete turnover lack of £20.4 billion.
Personal demand dropped by 26.6 per cent total, leading to a lack of £1.9 billion in VAT to the Exchequer.
Gross sales of petrol and diesel automobiles fell by 39 and 55 per cent respectively over 2019’s determine, dropping to respective figures of 903,961 and 261,772.
Nonetheless, gross sales of electrical, plug-in hybrid and customary hybrid automobiles had been up by 66.7 per cent on the earlier yr, rising to a complete of 285,199. These automobiles now account for 17.5 per cent of the market.
Mike Hawes, SMMT chief government, mentioned: “2020 will probably be seen as a ‘misplaced yr’ for Automotive, with the sector beneath pandemic-enforced shutdown for a lot of the yr and uncertainty over future buying and selling situations taking their toll.
“Nonetheless, with the rollout of vaccines and readability over our new relationship with the EU, we should make 2021 a yr of restoration. With producers bringing report numbers of electrified automobiles to market over the approaching months, we are going to work with authorities to encourage drivers to make the change, whereas selling funding in our globally-renowned manufacturing base – recharging the market, trade and economic system.”