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Financial News: UK New Car Registrations Decline In August

UK New Car Registrations Decline In August

09/04/2020 - 03:32:00 (RTTNews)

(RTTNews) - UK new car sales fell in August after a double-digit growth in the previous month, reports said on Friday, citing data from the Society of Motor Manufacturers and Traders, or SMMT.

New car registrations dropped 5 percent year-on-year in August, which is typically a quiet month of car sales.

In July, sales had grown 11.3 percent, which was the first expansion this year. The increase was driven by pent-up demand and special offers.

The trend was expected to continue into August after car showrooms re-opened in July following relaxation of the lockdown restrictions imposed to fight the coronavirus, or Covid-19, pandemic.

A clearer picture of whether or not this is a long-term trend should emerge by the end of September, SMMT had said last month.

The group expects registrations to be 30 percent down by end of 2020, totaling GBP 20 billion in lost sales.

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