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Financial News: UK Car Market Logs Weakest September Since 1998:

UK Car Market Logs Weakest September Since 1998: SMMT

10/05/2021 - 08:33:00 (RTTNews)

(RTTNews) - The UK car market registered its weakest September since 1998 ahead of the introduction of the two-plate system in 1999, the Society of Motor Manufacturers and Traders, or SMMT, said on Tuesday.

Car sales were down sharply by 34.4 percent in September from last year, when pandemic restrictions were significantly curtailing economic activity.

Nonetheless, September was the best month ever for new battery electric vehicle, or BEV, uptake. Registration of BEV surged 49.4 percent on a yearly basis.

This is a desperately disappointing September and further evidence of the ongoing impact of the Covid pandemic on the sector, Mike Hawes, SMMT Chief Executive, said. Despite strong demand for new vehicles over the summer, three successive months have been hit by stalled supply due to reduced semiconductor availability, especially from Asia, Hawes added.

In the year to date period, new car registrations advanced 5.9 percent to 1.31 million.

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