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Home Business NewsBusinessAutomotive New car demand plummets by 35% in June

New car demand plummets by 35% in June

by LLB Reporter

The Society of Motor Manufacturers and Traders (SMMT) said that new car demand had fallen by 34.9% in June.

The SMMT said there were only 145,377 new cars registered last month compared with 223, 421 for the same month last year.

The decline reflects uncertain economic confidence with almost 616,000 fewer cars were sold in the six months of 2020.

Mike Hawes, SMMT Chief Executive said, ”While it’s welcome to see demand rise above the rock-bottom levels we saw during lockdown, this is not a recovery and barely a restart.

“Many of June’s registrations could be attributed to customers finally being able to collect their pre-pandemic orders, and appetite for significant spending remains questionable.

The government must boost the economy, help customers feel safer in their jobs and in their spending and give businesses the confidence to invest in their fleets.

“Otherwise it runs the risk of losing billions more in revenue from this critical sector at a time when the public purse needs it more than ever.”

 

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