Category: Challenges of 2021 | Impact on The UK Car Market

A study reveals that high demand, a lack of stock, and reduced new vehicle availability are driving the prices of the used cars up the marketed rates of their latest versions.

“There's not going to be loads of stock coming back in September because of the shortage of semiconductors with new cars and shortage of part-exchanges and fleet returns off the back of that. I think demand will continue to stay strong.”

Auto Trader noted 15.8 million visits in the third week of August, an increase of 32% from the same week in 2019, underlining the enhanced public interest in purchasing used vehicles.

According to the Society of Motor Manufacturers and Traders (SMMT), automakers developed around 55,000 vehicles in May, contrasted to only 5,314 in the same time a year earlier. Evaluating it with May 2019 numbers, the UK car production is still 50 per cent down. 

The plans set out for 2030 are less rigorous than those for 2035 because they exclude the ban on hybrid cars. The new deadline supports the UK’s economic recovery from the aftermath of the pandemic, as a recent study by Greenpeace shows the 2030 embargo would generate more than 32,000 jobs.  

We have witnessed better car sales in April 2021 compared to the same month last year. According to data released by the Society of Motor Manufacturers and Traders (SMMT), vehicle sales rose to 141,600 units in April 2021.

It’s no secret that newly elected President Biden is what we might call ‘a bit of a petrolhead’.