Car Sales

Worst start to the year for UK car sales since 1970

Britain has suffered its weakest January car sales in 51 years, as showroom closures brought the market to a near standstill.

a car parked in a parking lot

The Society of Motor Manufacturers and Traders (SMMT) said on Thursday that just 90,249 new vehicles were registered across the UK last month, down 40% on last year. SMMT said the new car registrations total was the lowest in January since 1970.

“Following a £20.4bn [$27.7bn] loss of revenue last year, the auto industry faces a difficult start to 2021,” said SMMT chief executive Mike Hawes.

READ MORE:Negative rates in focus as Bank of England updates the market

Sales of diesel vehicles fell by 62%, while petrol car sales dropped 50%. Demand for electric vehicles rose by 8% and hybrid sales grew by 34%.

The headline slump was caused by lockdown restrictions across the UK, which meant car showrooms were shut.

Hawes called for showrooms to be opened

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US car sales recover: Americans are buying cars again

“When you look back to where we were in March and how dismal things looked, it’s incredible how strong the year ended,” said Michelle Krebs, senior analyst at AutoTrader.

GM made the announcement Tuesday alongside a release of its own fourth-quarter sales figures.

It doesn’t mean that auto sales are all the way back: Fleet sales, which typically make up about 20% of overall US sales, are still way off, GM said. That’s especially true for sales to rental car companies, which account for roughly half of fleet sales.
At GM (GM) specifically, fourth-quarter sales were up nearly 5% from a year ago — but it’s not a fair comparison, as GM’s fourth quarter 2019 sales were impacted by a prolonged strike at the automaker. GM’s full-year sales were down about 12% from 2019.
But Toyota (TM) also reported US quarterly sales rose 9% compared
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Electric car sales surge as dealers go digital but overall registrations slide 40%: reaction

New car registrations fell by almost 40 per cent last month despite a surge in sales of electric vehicles, industry figures have revealed.

a car parked in a parking lot

© Battery electric vehicle uptake grew by 2,206 units, or 54.4 per cent, to take a 6.9 per cent slice …

Just over 90,200 cars were registered UK-wide in January – down 39.5 per cent on the same month in 2020, according to the Society of Motor Manufacturers and Traders (SMMT).

It marks the industry’s worst start to a year since 1970 as showrooms across the country remained shut due to Covid lockdown measures.

SMMT chief executive Mike Hawes said: “Following a £20.4 billion loss of revenue last year, the auto industry faces a difficult start to 2021.

“The necessary lockdown will challenge society, the economy and our industry’s ability to move quickly towards our ambitious environmental goals.

“Lifting the shutters will secure jobs, stimulate the essential

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Highest organised used car sales in India

a sign on an airport runway

© Provided by The Financial Express

Maruti Suzuki has added another feather to its hat as its pre-owned cars retail channel True Value has clocked 40 lakh used car sales till date. The company had upgraded its True Value outlets in the year 2017 offering an amalgamation of online to offline car buying experience. With this change, Maruti Suzuki believes that a modern and progressive outlook was created in order to match the customers’ profile and deliver an enhanced experience. Maruti Suzuki’s True Value started its journey back in the year 2001 and it currently has over 550 outlets across 268 Indian cities. The brand sells used cars only after a 376 check quality evaluation, refurbishment and certification process. True Value certified cars also come with up to 1-year warranty and 3 free services.

The pre-sales checks at Maruti Suzuki True Value include checking of original documents, along with verification

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