In March 2020 the new car market in the UK fell -44% as dealers and showrooms closed their doors in response to COVID-19. March is generally one of the busiest months for car dealers given the release of the new registrations.
However this year there were 203,370 fewer cars registered compared to March 2019. This represents a much steeper decline than during the 08/09 Financial crisis. It was also the worst March sales since the late 90’s when the market moved to the bi-annual plate change system.
From speaking to showroom owners, their immediate focus will be after-sales as thousands of cars will need servicing and MOT’s following the lockdown.