New figures show just how hammered the motor industry has been by the COVID-19 pandemic. Figures from the Society of Motor Manufacturers and Traders (SMMT) show an unprecedented 97 per cent fall in UK new car registrations in April, with SMMT now expecting a total new car market this year of 1.68 million, the lowest since 1992.
The decline is in line with similar falls across Europe, with France down 88.8 per cent and the Italian market falling 97.5 per cent in April. The sales drops follow a massive hit to global new car production, down 39 per cent in March, with Europe the worst hit at 52 per cent down.
Industry bodies are calling on the motor sector to be in the first wave of reopenings to get economies going again. Various surveys this week reveal new-car buying intentions remain strong. Order books are reopening and several companies are introducing new online or remote buying options. Jaguar Land Rover has opened “virtual showrooms” on its website where buyers can browse, build and order online from the safety of their own homes. Part exchange valuations, finance quotes, finance applications and online reservations can all be handled online, says JLR.