Rolling coverage of the latest economic and financial news
- UK car sales fell 14.3% last month
- Best month ever for battery electric car sales
- Morrisons says profits likely to take big hit from inflation and Ukraine war
- Ukraine war to slow economic growth and drive up poverty in Asia, World Bank warns
Just in: UK car sales in March were their weakest in 24 years, in a ‘deeply disappointing’ result for the industry.
Sales fell 14.3% year-on-year (as flagged earlier) to 243,479 units.
“March is typically the biggest month of the year for the new car market, so this performance is deeply disappointing and lays bare the challenges ahead.
While demand remains robust, this decline illustrates the severity of the global semiconductor shortage, as manufacturers strive to deliver the latest, lowest emission vehicles to eagerly awaiting customers. Placing orders now will be beneficial for those looking to take advantage of incentives and lower running costs for electric vehicles, especially as the Ukraine crisis could affect supply still further.
Continue reading...from The Guardian https://ift.tt/Gd7qbzO
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