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Source: Fahroni, Shutterstock
Summary
- Latest SMMT figures show an 11.5 per cent rise in new car registrations across the UK in the month of March.
- However, the numbers were still down nearly 37 per cent on an average between FY2010 and FY2019.
New car registrations have risen by 11.5 per cent on annual basis in March this year, according to the latest industry data from the Society of Motor Manufacturers and Traders). This took the total number of car registrations to 283,964 for the month of March. While the sales of the fleet vehicles segment grew by 28.7 per cent, the business vehicle segment was up 18.6 per cent and sales of the private vehicle segment dropped 4.1 per cent for March 2021 as compared to the same month in 2020.
On an average, the top two selling months of the year are March and April as every year the licence plate series changes and boosts demand.
It is to be noted that while the registrations jumped 11 per cent as compared to March last year, they were still down nearly 37 per cent on the average March total between FY2010 and FY2019.
As the car showrooms were closed to the public, many dealers used ‘click and collect’ and delivery services for their basic requirements.
In England, car dealers are scheduled to reopen their showrooms from 12 April, as per the new government guidelines.
UK car industry
According to the SMMT statistics, the UK automotive industry is sized at nearly £79 billion (based on the turnover). It employs 180,000 people directly and 864,000 indirectly. The UK automotive industry is best known for premium car brands such as Aston Martin, Bentley, Daimler, Land Rover, Jaguar, and Rolls-Royce.
Let us take a closer look at the prospects, financial results, and stock performance of UK-based luxury sports car maker Aston Martin, which is known for its style, luxury and performance. The car brand was founded in 1913 by Lionel Martin and Robert Bamford. Since 2007, Aston Martin is owned by a consortium of Investment Dar, Adeem Investment and InvestIndustrial.
Aston Martin Lagonda Global Holdings PLC
The financial performance of the carmaker for FY 2020 was in line with the company expectations. With a revenue of £612 million for the year (FY 2019: £981 million), the total company sales to dealers were 3,394 units for the year (FY 2019: 5,862).
The company’s free cash outflow was £539 million for the year (FY2019: £338 million) while its net debt shrank to £727 million for FY 2020 (FY 2019: £988 million). Its cash balance was £489 million at the end of December 2020 (31 Dec 2019: £108 million).
The automobile firm is also planning to renew its product range underpinned by the Mercedes-Benz AG technology. Over 10 new vehicles are planned to be launched by 2023.
Recently, Lawrence Stroll, chairman of Aston Martin, told the Financial Times that the carmaker is planning to make full-electric vehicles in Britain from 2025. The company stock (LON: AML) was down 4.80 per cent at 1.48 PM on the London Stock Exchange on 6 April to GBX 1922.00.
