News

Britain s new car sales drop to 30-year low

January 5, 2023 12:36 PM


Twitter Share Facebook Share WhatsApp Share

Sales of new cars in Britain sank in 2022 to their lowest level in three decades, plagued by parts shortages and Covid-linked supply chain woes, industry data showed Thursday.

The nation's mainly foreign-owned automakers sold a combined 1.61 million vehicles -- the lowest since 1992, according to data from the Society of Motor Manufacturers and Traders.

That marked a 2.0-percent decline from 2021, when demand had already been blighted by Covid fallout and semiconductor shortages.

"Despite underlying demand, pandemic-related global parts shortages saw overall registrations for the year fall," the SMMT said in a statement.

Total new car registrations were meanwhile one quarter less than 2019, before the eruption of the deadly coronavirus crisis.

Nevertheless, Britain managed to reclaim its position as Europe's second biggest market behind Germany, after being overtaken by France in recent years.

And the SMMT forecast a 15-percent jump in new car sales for 2023.

"The automotive market remains adrift of its pre-pandemic performance but could well buck wider economic trends by delivering significant growth in 2023," said SMMT chief executive Mike Hawes.

"Looking ahead, supply chains are beginning to stabilise and although the shortage of semiconductors is expected to ease, erratic supply will likely impact manufacturing throughout 2023."

He added: "Lockdowns in China have not helped, high logistics costs (and) more pressure on raw materials.

"The complexities of global manufacturing have really been brought to bear heavily on the industry this past year."

December marked the fifth straight month of rebounding in car sales, aided by keen demand for electric battery cars, but this was not enough to offset a large first-half decline, according to the industry organisation.

Many manufacturers, faced with constrained supplies, prioritised production of zero-emission electric models.

Britain is due to ban the sale of new high-polluting diesel and petrol cars from 2030, forcing its car manufacturing sector to switch production to electric vehicles.



Most Read

  1. Punjab governor appoints Lt Gen (retd) Abdul Aziz as PPSC Chairman Punjab governor appoints Lt Gen (retd) Abdul Aziz as PPSC Chairman
  2. Reason behind Shruti Haasan and Santanu Hazarika's separation after 4 years Reason behind Shruti Haasan and Santanu Hazarika's separation after 4 years
  3. Life is too short for leaks, Yashma Gill’s latest video ignites criticism Life is too short for leaks, Yashma Gill’s latest video ignites criticism
  4. 20 passengers perish in Chilas bus plunge 20 passengers perish in Chilas bus plunge
  5. Parineeti Chopra's husband Raghav Chadha undergoes ‘dangerous’ eye surgery in UK Parineeti Chopra's husband Raghav Chadha undergoes ‘dangerous’ eye surgery in UK
  6. Are Aftab Iqbal and Kapil Sharma coming together? Are Aftab Iqbal and Kapil Sharma coming together?

Opinion

  1. PM Shehbaz Sharif, WEF and Pakistan
    PM Shehbaz Sharif, WEF and Pakistan

    By Naveed Aman Khan

  2. Employing global best practices in Pakistan-Saudi ties
    Employing global best practices in Pakistan-Saudi ties

    By Nasim Zehra

  3. PML-N smashed PTI in by-polls
    PML-N smashed PTI in by-polls

    By News Desk

  4. Riding the Digital Wave: How Technology is Rewriting the Script of Economic Prosperity
    Riding the Digital Wave: How Technology is Rewriting the Script of Economic Prosperity

    By News Desk

  5. Tax on solar energy: Govt's misplaced priorities favour powerful stakeholders over people welfare  
    Tax on solar energy: Govt's misplaced priorities favour powerful stakeholders over people welfare  

    By Manzoor Qadir

  6. Legacy of Indian military subjugation in Kashmir
    Legacy of Indian military subjugation in Kashmir

    By Dr Ghulam Nabi Fai