The UK new car market declined -44.4% in March, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). In the important plate change month 203,370 fewer cars were registered than in March 2019, as showrooms closed in line with government advice to contain the spread of the coronavirus.
The performance represented a steeper fall than during the 2009 financial crisis and the worst March since the late nineties when the market changed to the bi-annual plate change system. With lockdowns taking place in many European countries earlier than the UK, even more dramatic falls have been reported elsewhere, with Italy down -85%, France -72% and Spain down -69% in March.
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SOURCE: SMMT
