UK new car registrations rose 11.3 percent from a year earlier to 174,887 units in July 2020, as dealerships across the UK opened for their first full month of trading since February. This represents a significant improvement on the same month last year, when declining business and consumer confidence undermined the market. Private demand saw the most significant growth with a 20.4 percent increase in registrations, primarily a result of consumers finally being able to renew their cars after lockdown had forced them to delay. In addition, manufacturer incentives have helped attract customers to showrooms. Business car registrations showed modest growth, with fleet purchases increasing by 5.2 percent. Even so, more than 13,000 jobs have now been lost by UK Automotive across retail and manufacturing as a result of the pandemic, with more likely to follow given the scale of the challenges facing the sector, including shifts in technology, Brexit uncertainty and a depressed market.
Car Registrations in the United Kingdom averaged 153974.17 from 1962 until 2020, reaching an all time high of 562337 in March of 2017 and a record low of 4321 in April of 2020. This page provides the latest reported value for - United Kingdom Car Registrations - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Car Registrations - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: The Society of Motor Manufacturers and Traders Limited (SMMT)
Car Registrations in the United Kingdom is expected to be 271000.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Car Registrations in the United Kingdom to stand at 185000.00 in 12 months time. In the long-term, the United Kingdom Car Registrations is projected to trend around 136000.00 in 2021 and 169000.00 in 2022, according to our econometric models.