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    UK vehicle registration falls into a bottomless hole

    Manufacturers are still profitable, but the automotive sector hasn’t been at its best in recent years. Growth seems to have peaked in most Western countries, encouraging companies to bring this business to other markets, and the supply chain is also being adversely affected by the pandemic. Semiconductor shortage is hindering production schedules On a scale never seen since the Great Recession.

    If the economist’s warning cry is believed, it’s a bad situation and is rumored to get worse. However, there is increasing evidence to support their claim. The Motor Manufacturers Association (SMMT) recently reported that UK vehicle registrations fell by about 35% in September compared to the same period in 2020. This is because the moon usually represents the second busiest period in the country. The number was already low because production was stopped due to the blockade of the coronavirus.

    Compared to the region’s 10-year average, UK sales in September were actually down almost 45%.

    “This was a desperately disappointing September, further evidence of the continued impact of the Covid pandemic on the sector. During the summer there was strong demand for new cars, but semiconductor availability, especially from Asia. Supply stagnated for the third straight month due to the decline, “said Mike Hawes, CEO of SMMT. Said Financial Times this week..

    from FT:

    Dealers reported 215,312 new car registrations last month. This fell 34% last September, and sales were hit hard by the blockade of the coronavirus. The average for the 10 years before the pandemic decreased by about 45 units per unit. Sales have been the lowest since the introduction of the “two-plate” system in 1999.

    As in other sectors, the automotive industry, which was already facing uncertainty around Brexit, was hit hard by the pandemic outage and economic uncertainty.

    As the economy resumes due to a global shortage of computer chips, it continues to struggle to cope with stagnant demand.

    Almost everyone expected September to be a relief sigh for the industry and evidence of a recovery in car sales. However, over the past two months, automakers have reported significant sales declines and have sought to pay attention to where they take responsibility. Consumers are said to be not a problem and even show a willingness to pay exorbitant prices for both new and used cars.

    Instead, the industry continues to blame the shortage of semiconductors, suggesting that buyers are eager to dive into the pool with more savings than usual. Even when your customer is full of cash and hasn’t bought yet, your finger must be aimed at the manufacturer or the busy and uncertain economy. At least that’s the case in Britain, and it’s almost certainly an explanation that will be handed over to North America.

    But the longer this seems to be a universal problem.

    “After a strong spring sales season, supply conditions have deteriorated sharply, reducing sales,” said Charlie Chesbro, senior economist at Cox Automotive. Said on monday.. “Available supply [American] Dealer lot is currently 58 [percent] It was less than last September, a decrease of nearly 1.4 million units. “

    However, one of the controversial bright spots from the SMMT assessment was the increase in the penetration rate of electric vehicles. Last month, more than 32,000 new battery-powered electric vehicles were registered and reportedly recorded in the UK. EVs technically require more semiconductor chips than modern internal combustion engine vehicles, but it’s really strange. How the global tip shortage really relates to the grand plan of things..

    [Image: Gretchen Gunda Enger/Shutterstock]

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    UK vehicle registration falls into a bottomless hole

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    The post UK vehicle registration falls into a bottomless hole appeared first on Eminetra.

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