The next quarter remains a challenge for the UK motoring industry, which accounts for a turnover of £82 billion into the country’s economy. Following an already difficult 2020, the sector will need to show even more resilience with reduced manufacturing levels and potential further restrictions due to Covid-19, Brexit uncertainty and the threat of tariffs, and the requirement of huge investments to move towards zero-emission vehicles.
In addition, the soon-to-end furlough scheme and expected rises in unemployment could undermine any limited progress which has been made thus far.
Sadly, regardless of what happens for the final quarter of 2020, it is almost impossible for the motor industry to recover an estimated £21.2 billion in lost sales with a projected market decline of -30.6% by the end of the year.