Motor Trade Insurance

February Sees Another Reduction In New Car Sales

March 24, 2020 by Logan Biggs

When will we see the fortunes of motor traders turn around? Well, February was not a good month for the sale of new cars according to data published by the Society of Motor Manufacturers and traders (SMMT).

It is disappointing to hear yet again that the number of new cars sold in the month of February 2020 reduced when compared with the same month in 2019. Of course, as motor traders will be well aware, the number of new car sales also has an impact upon how many used cars are remaining unsold.

According to the SMMT, the number of new cars sold in February 2020 amounted to 79,594 whereas the sale of new cars amounted to 81,969 for the same month last year with this equating to a drop of 2.9%. Needless to say, this news will cause concern amongst many people running a motor trade business. It will also worry other areas of the motor trade industry such as those selling car parts.

As if the industry hasn’t had enough to contend with when along comes the Coronavirus leading to a number of deaths. This may have led to the temporary closure of a number of car sales rooms thus impacting negatively on such data.

On a year to date basis to February 2020, the number of new cars sold here in the UK totalled 228,873 with this being a fall of 5.7% from 242,982 in January 2020.

The top 5 selling new cars in February 2020 were: –

1. Volkswagen Golf                                        3,457

2. Ford Fiesta                                                 3,123

3. Ford Focus                                                  2,764

4.Vauxhall Corsa                                             1,871

5. Mercedes-Benz A-Class                              1,648

The number of petrol fuelled new car sales dropped from 52,035 in February 2019 to 48,247 in February 2020. This equates to a fall of 7.3%. The number of new diesel fuelled cars sold in February 2020 was 17,457 down from 23,941 for the same month last year– a drop of 27.1%.

It is to be hoped that, for future months, motor traders see an improvement in the number of new cars being sold here in the UK. We will continue to keep our readers up to date with future new car sale statistics.

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