May car sales results are a total disaster for the entire industry. Fewer than one tenth of the usual number was sold as country was locked down under strict quarantine. Without doubt it will have far reaching consequences. Now, as many showrooms are opened the potential customers are struggling with the budgetary fallout.
UK car dealers sold 90 percent fewer cars in May than in the same month a year earlier. Showrooms in the country have only been allowed to open partially since Monday after a closure due to corona measures. However, cars could be delivered directly to customers.
A total of 20,000 new cars were registered in May. That is more than the 4,321 vehicles sold in April, but at the same time much less than the 183,724 cars sold in May 2019. The numbers, like other macroeconomic data, indicate that the sharpest downturn in the UK economic activity caused by the corona crisis occurred in April.