New-vehicle registrations fell by a whopping 24% last year
That is the biggest annual drop since records began in 1990, despite relatively resilient demand being observed in the second-half of the year following the collapse during the initial wave of the coronavirus outbreak back in March to May.
In terms of raw figures, new-vehicle registrations for the whole of 2020 was 11,961,182 as compared to the 15,805,658 recorded back in 2019.
The bright spot is that the return in demand seen in 2H 2020 bodes well for the industry outlook and should lead to a substantial recovery this year.
