According to the report from Society of Motor Manufacturers and Traders (SMMT), the UK new car market declined -44.4% in March. In the important plate change month 203,370 fewer cars were registered than in March 2019, as showrooms closed in line with government advice to contain the spread of the coronavirus.

The performance represented a steeper fall than during the 2009 financial crisis and the worst March since the late nineties when the market changed to the bi-annual plate change system. With lockdowns taking place in many European countries earlier than the UK, even more dramatic falls have been reported elsewhere, with Italy down -85%, France -72% and Spain down -69% in March.

In total, 254,684 new cars were registered in the month, with demand from private buyers and larger fleets falling by -40.4% and -47.4% respectively. Meanwhile the numbers of petrol and diesel cars joining the road were down -49.9% and 61.9%.

There was some good news for early adopters, who were able to take delivery of the latest alternatively fuelled cars before the crisis took hold in the UK. Registrations of battery electric vehicles (BEVs) rose almost three-fold in the month to 11,694 units, accounting for 4.6% of the market, while plug-in hybrids (PHEVs) grew 38.0%. Uptake of hybrid electric vehicles (HEVs), however, fell -7.1%.