Ft alphaville regrets to inform you that brexiteer john redwood, conservative person in parliament for wokingham, features tweeted once more:
How to start with this particular?
First up, theres the issue that mr redwood is apparently alluding to: namely reports that nissan can look to shutter its sunderland vehicle plant when we leave the eu without an offer. reports, we should note, that nissan recently pushed straight back on, in line with the fts automobile egghead piston pete campbell.
However, as piston notes, the long run future associated with plant still hinges on the brexit outcome. so project worry -- a term which is typically used by pro-brexiteers to dismiss worries across british post-brexit -- might just be onto something.
Yet exactly what caught our attention had been mr redwoods 2nd and third sentences. he explains the failure in united kingdom diesel and petrol car sales this season took place despite our present trading commitment with the eu.
And indeed he could be quite right -- heres the way the uks car sales look-up to october, through the society of motor brands and traders (smmt):
As you can plainly see, diesel and petrol automobiles sales have tanked 55.1 % and 38.9 per cent correspondingly, ameliorated significantly by increasing product sales of pure electric vehicles (bev) and differing forms of hybrid (phev, mhev etc.).
Theres a small wrinkle here, but.
Because theres been another macro-economic event in 2010 which hasnt aided automobile product sales. you could have also heard of it for those who have your hand from the proverbial pulse.
But, for those perhaps not into the know, were referring to the global coronavirus pandemic.
A meeting which caused the uks economic climate to-fall by a fifth into the 2nd quarter, has had the everyday lives of some 64,000 folks, and it has led to redundancy amounts higher than during gfc:
Need to know just what component coronavirus played in all this?
Well in height of lockdown -- april -- united kingdom car sales dropped 97.1 per cent year-on-year. are not sure what this has reached do with all the nation becoming in or out from the customs union or single marketplace to-be honest. and were not yes anyone had been quiet or unconcerned about any of it either. for instance, heres an ft article, a guardian article, a bbc article and a telegraph article on aprils numbers. and listed below are tales of pandemic-induced job cuts at jaguar, bentley and vehicle dealerships pendragon and inchcape. you will get the concept.
It had been quite clear before coronavirus that diesel and petrol vehicles were in secular decline through a mixture of federal government rewards and carbon-aware customers choosing more environmentally friendly automobiles. for this reason why nissan is scheduled to produce a hybrid, and never a combustion engine car, at its plant in sunderland next year.
We possibly may have seen that trend when you look at the numbers this year and, if that's the case, it would have taken place under our existing trade deal with the eu. but, the moment, we've no clue simply how much of the decline was due to the pandemic, and exactly how much of it wasnt. exactly the same in addition applies to the big leap in market share of electric and hybrid cars.
Exactly what the car industry has a significantly better concept about, however, is exactly what a no offer might do its bottom line. and, unlike the pandemic, that's a concern that your government has some control of.