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Wednesday, November 30, 2022

Car industry suffers weakest March since 1998

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T

he UK’s automotive industry suffered its worst March for new car sales since 1998, according to new figures.

Just 243,479 new cars were registered last month, the Society of Motor Manufacturers and Traders (SMMT) said.

That is down 14.3% compared with March 2021.

It is the lowest March total since 1998, which was prior to the introduction of new number plates every March and September.

The SMMT said the “massively disappointing” performance was largely down to “ongoing supply chain shortages – especially of semiconductors”.

March is crucial for the industry because it is normally its busiest month of the year as buyers demand the latest number plate.

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