Motoring: UK car sector warns of Brexit costs as it pushes for investment gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
| UPDATED: 20:32, Wed, Jan 6, 2021
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Meanwhile Irish politicians have lashed out after a fishing boat was boarded by UK officials close to Rockall in the North Atlantic - with one saying it was time to make a stand . The Parliamentary petition had been signed by 26,193 people as of 1.40pm. Because it has more than 10,000 names to it, the Government will be required to make an official response. If if attracts more than 100,000 signatures, it will trigger an automatic debate.
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nline car trading marketplace AutoTrader today warned it is to make up to £7 million in operating losses next month.
The latest lockdown has shuttered car showrooms and the FTSE 100 firm said it will offer free listings in February - as it did in December - at a cost of £5-7 million per month to the business.
AutoTrader said that momentum had remained strong through the third quarter - with site visits up 20% on the prior year between October and December. But it now expects lockdowns to impact sales volumes in January and February.
In a trading update, the firm said its balance sheet remains strong, despite the anticipated losses in this quarter.
Updated
Wednesday, 6th January 2021, 10:27 am
The UK’s new car market contracted by 30 per cent in 2020 as the effects of the Covid-19 pandemic and economic uncertainty around Brexit took their toll on the industry.
Figures released by the Society of Motor Manufacturers and Traders (SMMT) showed a 29.4 per cent decrease in the number of new car registrations, making 2020 the worst year for the auto industry since 1992.
A total of 680,076 fewer cars were registered compared to 2019, equivalent to £20.4 billion in lost turnover, according to the body which represents car makers and sellers in the UK.
The new car industry was battered by the effects of the Covid-19 outbreak, which affected vehicle production and supply and forced dealerships to close for months. The outbreak also hit consumer confidence as people looked to reduce spending and concerns over a post-Brexit trade deal are also thought to have affected interest in new models.