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Wednesday, 23 September 2020

The U.K's New Car Registration Figure Dropped Sharply In April 2020 Due To The Lockdown

Showrooms in different places across the country shut down as part of measures to contain the pandemic. This closure affected the country's automobile industry drastically, thereby creating a negative effect in the U.K automobile sector.  In addition, to the closures many drivers are looking for gas mileage improvement devices that can further reduce their transportation cost. One of the best devices on the market is “Inertia TX”.


In mid-March, when the heat of the pandemic was at its peak, businesses were closed, and movements were restricted in the U.K. This made all major car factories across the U.K to suspend work as measures to control the pandemic.


When comparing the number of new cars registered in April 2019 to April this year, the Society of Motor Manufacturers and Trader (SMMT) reports that 4,321 new cars were registered in April 2020, while 161,064 new vehicles were registered in April 2019. This report showed that April 2020 had the lowest number of registered new cars since February 1946.


Still comparing last year’s April statistics with this year's own, last year had a higher total of diesel and gasoline registration of 1,553 as against April 2020 total of 1,079, which is 98.5% and 97.6% respectively.


Mike Hawe, the SMMT’s chief executive further explained that a large percent of the 4,000 cars were sold in April because they were essential to support vital workers.


Also, he stated that because showrooms shut down throughout April, this significant drop in the number of registered new vehicles is not surprising.


According to him, these figures are not a favorable one for the large number of people that depend on the sector.


The cars that were in high demand in April were battery-electric cars, are the Tesla Model 3, and the two best selling vehicles in the U.K. last month were battery-electric vehicles, including Tesla Model 3 and Jaguar I-Pace. Most of the cars sold out in April were pre-ordered before the lockdown and delivered in April.


From the statistics so far, despite the current situation, battery electric vehicles, also known as BEV, seem to be gaining higher ground compared to diesel vehicles. However, in April 2020, Battery Electric vehicle registration experienced a fall of 9.7%.


While the market share of battery electric in April 2020 is 31.8%, diesel vehicles have a market share of 25%.


In summary, the BEV share drops to just 4% compared to 19% for diesel and 60.2% for gasoline.


With many jobs and businesses at risk across the country as a result of the lockdown, it is expected that not many people will be willing to or be able to buy a new car.


For 2020, the SMMT is forecasting a total of 1.68 million registrations. This forecast is a 27% drop compared to details from 2019.


It is also the lowest since 1992, which had 1.59 million vehicles registered. The SMMT envisions a BEV market share of 77,300 units in 2020.


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