Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Car registrations in UK for March was reported at 283,964 units, up 11.5pc from the prior year month, according to data released by Society of Motor Manufacturers and Traders (SMMT). 

 

Registrations increased for the first time since August 2020. About 8,300 registrations are required each day to return to average pre-pandemic levels by the end of this year. In March last year, lockdown in the UK brought registrations down by 44pc and later, the pandemic caused a registration to come to a standstill. 

 

For January – March period, registrations have fallen 12pc to 425,525 units compared to the prior year period. Showrooms are expected to reopen in less than a week and SMMT is confident about consumer confidence which would result in revival of market. April 2020 was an extremely poor month for auto sales, registrations and production, growth year-on-year in April 2021 will be record breaking, says SMMT. 

 

Retail consumer demand was down 4.1pc from March 2020, noted SMMT. Registration for Battery electric vehicles (BEVs) increased 88.2pc to 22,003 units and plug-in hybrid vehicles (PHEVs) rose 152.2pc to 17,300 units. Hybrid Electrical Vehicles (HEVs) jumped 42pc to reach 21,599 registrations. 

 

To increase sales, the sector is providing competitive offers and if the consumers are responsive, then sustainability of the market is possible. New plug-in models are driving recovery but to increase demand for them, more consumers must be assured that new technologies are convenient and the charging infrastructures are there as and when they need it, the auto body said. 

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