New car sales March ahead

DEALERS EYE REVIVAL AS DOORS OPEN

NEW car sales rose for the first time since August last month – up 11.5% on March 2020, said the Society of Motor Manufacturers and Traders.

The industry group said growth came almost entirely from fleet sales as consumer demand is still depressed due to showrooms being shut in lockdown.

Also, last month’s sales were flattered by a sales crash suffered last year when panic at the start of the pandemic saw registrations dive 44%.

SMMT data revealed sales remain nearly 37% down on the average before Covid-19 struck – with sellers shifting 5,600 new cars a day compared to an average of 8,300 before the crisis.

And although click and collect has provided a lifeline for the sector, SMMT said dealers were looking forward to

Customers will get extended hours to shop for a week when Primark stores reopen on

Monday amid measures to improve safety and cut queues.

The retailer said almost all of its stores will open one hour earlier and close an hour later. Because it does not sell online, it is anticipating a rush of bargain-hunting shoppers.

“It’s great to be back,” said chief executive Paul Marchant. “We’re also asking our customers to keep up the spirit they showed last year, particularly when queueing.”

When Primark reopens, new lines will include a Disney range made from sustainable recycled materials. reopening on Monday in the belief there is a pent-up demand from buyers. SMMT chief executive Mike Hawes said: “The past year has been the toughest in modern history.

“However, with showrooms opening in less than a week, there is optimism that consumer confidence – and hence the market – will return.

“We know we will see record-breaking growth next month given April 2020 was a washout.” Additionally, the SMMT said that 56,122 new vans were registered last month, an 85.5% increase compared to March 2020’s figure.

BP has

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achieved its target of cutting its net debt by £4.3billion to £25.3bn nearly one year ahead of schedule. As a result, investors hope that BP chief executive Bernard Looney will keep his promise to return 60% of surplus cash to them at its quarterly results later this month.