Monitoring Desk
ISLAMABAD/LANDON: Industry data showed Thursday that the sales of the new cars in Britain sank in 2022 to their low level in the previous three decades, plagued by parts shortages and Covid-19-linked supply chain woes.
According to information from the Society of Motor Manufacturers and Traders, a nation’s mainly foreign-owned automakers sold combined 1.61 million vehicles, the lowest since 1992. That marked a 2 percent decline from 2021 when the Covid fallout and semiconductor shortages had already blighted demand.
Car sale declined
According to the Agence France-Presse (AFP), Society of Motor Manufacturers and Traders (SMMT) said that despite underlying the demand, pandemic-related international parts shortages saw overall registrations for a year fall. Total new car registration was one quarter less than in 2019, before the eruption of the deadly coronavirus issues.
After being overtaken by the France in recent years, Britain has managed to reclaim its position as Europe’s second biggest market behind Germany. And the SMMT forecasts a 15 percent jump in new car sales for the 2023.
SMMT chief executive Mike Hawes said that the global automotive market remains adrift of its pre-pandemic performance but could good buck wider economic trends by delivering significant growth in 2023.
Looking ahead, supply chains are beginning to stabilize, and although a shortage of semiconductors is expected to ease, erratic supply could likely impact manufacturing throughout 2023. He also said that lockdowns in China have not helped, high logistic costs or more pressure on the raw materials.
The complexities of international manufacturing have really been brought to bear heavily on the industry previous year.
December marked fifth straight month of the rebounding in car sales, aided by keen demand for electric battery cars, but that was not enough to offset a large first-half drop, according to the industry organization. Many manufacturers have faced with constrained supplies, prioritised the production of zero-emission electric models.
