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UK Car Sales Crash In April On COVID-19 Lockdown

Discussion in 'United Kingdom Stock Exchange' started by Melvin, May 18, 2020.

  1. Melvin

    Melvin Active Member

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    Britain’s new car sales crashed in April to hit the lowest level since 1946, mirroring falls across Europe, with many showrooms shut for the coronavirus lockdown, industry data showed Tuesday.

    New registrations for all cars collapsed by a “precipitous” 97 percent last month on a yearly basis to just 4,321 vehicles, the Society of Motor Manufacturers and Traders (SMMT) said in a statement.

    That was the worst performance since February 1946 and compared with 161,000 cars in the same month of 2019.

    “The decline was the steepest of modern times, and is in line with similar falls across Europe, with France 88.8 percent down and the Italian market falling 97.5 percent in April,” the SMMT said.
     

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