British Car Sales Forecast Drops 9 Percent Amid Semiconductor Shortage

[claireokc]

The UK car industry has downgraded its forecast for the number of cars it expects to sell this year by nine percent. Around 1.72 million new cars will be registered in 2022, according to the Society of Motor Manufacturers and Traders (SMMT). This is down from the forecast of 1.89 million issued in January. The reduction comes as the number of new cars registered in April fell by 16 percent year-on-year. Some 119,167 new cars were registered last month, down from 141,583 in April 2021. This is despite lockdown restrictions meaning showrooms were closed for the first 11 days of April last year. SMMT chief executive Mike Hawes said: “The worldwide semiconductor shortage continues to drag down the market, with global geopolitical issues threatening to undermine both supply and demand in the coming months. ...

Source: https://www.theepochtimes.com/british-c ... 47538.html