Car sales in the UK fell 35 per cent in June from a year earlier, the lowest drop since February

Published: Jul 7, 2020 08:04

SMM: according to reports, data released by the British Automobile Manufacturers and traders Association (SMMT) showed that in June, new car sales in the UK reached 145377, down 35% from the same period last year, narrowing the decline than before. UK car sales fell 44 per cent in March from a year earlier, plunged 97 per cent in April and 89 per cent in May. SMMT also said UK car sales fell nearly 50 per cent in the first half of this year compared with the same period last year.

At present, not all British car factories have reopened and many are reducing production as many carmakers try to balance supply and demand. In addition, although car dealerships in England reopened on June 1, car dealers in Wales and Scotland had to wait until June 22 and June 29 to restart operations.

Mike Hawes, chief executive of SMMT, said: "car sales in the UK in June do not mean that the auto industry has recovered, but just restarted." In fact, most car deliveries in June are orders placed by consumers before the epidemic, and consumers are still cautious about buying cars and other large expenses. "

By contrast, new car sales fell 40 per cent in Germany in June from a year earlier, 37 per cent in Spain and 23 per cent in Italy. It can be seen that the decline in car sales in most countries in June was narrower than in previous months, but the overall decline was still in the shadow of the new crown pneumonia epidemic. It is worth mentioning that French sales rose 1.2 per cent in June.

Click to register: "2020 (Fifth) China International Nickel, Cobalt and Lithium Summit Forum"

Scan the code to sign up for the Ni-Co-Li Summit or apply to join the SMM industry exchange group:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Deep-Sea Mining Firms Move Toward Commercial Processing
1 hour ago
Deep-Sea Mining Firms Move Toward Commercial Processing
Read More
Deep-Sea Mining Firms Move Toward Commercial Processing
Deep-Sea Mining Firms Move Toward Commercial Processing
Glomar and Cobalt Blue plan to build a U.S. refinery to process deep-sea polymetallic nodules, including copper, highlighting alternative supply strategies.
1 hour ago
Copper Futures Activity Picks Up with Rising Participation
1 hour ago
Copper Futures Activity Picks Up with Rising Participation
Read More
Copper Futures Activity Picks Up with Rising Participation
Copper Futures Activity Picks Up with Rising Participation
Copper futures trading volumes on COMEX have rebounded to over 73,000 contracts, with open interest slightly increasing, indicating renewed market participation amid ongoing volatility.
1 hour ago
Vale Plans to Increase Mineral Reserve and Resource Volumes; Overnight, Both LME Copper and SHFE Copper Closed Higher [SMM Copper Morning Meeting Summary]
1 hour ago
Vale Plans to Increase Mineral Reserve and Resource Volumes; Overnight, Both LME Copper and SHFE Copper Closed Higher [SMM Copper Morning Meeting Summary]
Read More
Vale Plans to Increase Mineral Reserve and Resource Volumes; Overnight, Both LME Copper and SHFE Copper Closed Higher [SMM Copper Morning Meeting Summary]
Vale Plans to Increase Mineral Reserve and Resource Volumes; Overnight, Both LME Copper and SHFE Copper Closed Higher [SMM Copper Morning Meeting Summary]
SMM Morning Meeting Summary: Overnight, LME copper opened at $12,402.6/mt. In early trading, it fluctuated downward to a low of $12,334.5/mt. Subsequently, the center of copper prices gradually moved higher, rising to $12,482.5/mt near the close, and finally closed at $12,472.6/mt, up 0.73%. Trading volume reached 24,900 lots, and open interest stood at 291,200 lots, down 7,698 lots from the previous trading day, mainly due to bears reducing positions. Overnight, the most-traded SHFE copper 2605 contract opened at 96,300 yuan/mt. In early trading, it fluctuated downward to 96,210 yuan/mt. Subsequently, the center of copper prices fluctuated upward, touching a high of 96,970 yuan/mt near the close, with a gain of 0.45%. Trading volume reached 40,900 lots, and open interest stood at 183,400 lots, down 2,869 lots from the previous trading day, mainly due to bears reducing positions.
1 hour ago
Car sales in the UK fell 35 per cent in June from a year earlier, the lowest drop since February - Shanghai Metals Market (SMM)