SMMT: worst February for new car registrations since 1959

Ongoing showroom closures stifle demand in what is usually one of the quietest months of the year

New figures from the SMMT reveal that last month was the weakest February for new car registrations in the UK since 1959. 

The organisation notes that although February is a "traditionally quiet month" as buyers hold out for the plate change in March, ongoing restrictions on the car retail sector meant demand was even lower than usual.

The 51,412 new cars registered nationwide during the month represents a 35.5% decline year-on-year, and has prompted the SMMT to revise its registrations forecast for 2021 from 1.89 million to 1.83 million.

The SMMT predicts most of the year's losses to occur in March; with showrooms in England forced to remain closed until at least 12 April, click-and-collect services are unlikely to foster the same boost in demand that usually accompanies a bi-annual plate change.

Registrations in February declined across both the private and fleet sectors, by 37.3% and 33.5%, respectively. Business sales - traditionally much lower - dropped a significant 56.6% to just 637 units.

The drop was also registered across all vehicle segments, except the relatively small luxury saloon segment, which recorded a 3.8% increase. 

This breaking news story is being updated.