Last year wasn’t good for new car sales. Factory shutdowns, lockdowns, and consumer hesitancy caused car sales to crater in the Spring of 2020; stronger sales in the latter months of the year couldn’t erase the early drop.
The coronavirus pandemic pushed UK car sales in 2020 down to the lowest level since 1992, the biggest annual slump since the second world war despite surging sales of electric cars, according to industry data.
Sales fell by 29% during the year to about 1.63m, preliminary figures from the Society
On sales outlook, Ayukawa said while the industry expected 2021 to be better than 2020, it remained tough to predict the future with the pandemic still there.
Although sales of passenger vehicles (PVs) and two-wheelers grew in December as also in the October-December quarter, April-December saw virtually every segment of
“When you look back to where we were in March and how dismal things looked, it’s incredible how strong the year ended,” said Michelle Krebs, senior analyst at AutoTrader.
GM made the announcement Tuesday alongside a release of its own fourth-quarter sales figures.
A drop-off in auto sales usually sends incentives soaring and profits plummeting. Not in 2020, amid the biggest one-year decline in U.S. light-vehicle sales since the Great Recession.
Instead, tight inventory levels resulted in smaller discounts and a stronger bottom line for many automakers and dealers. In December alone, the