Car market hit by COVID-19 as sales drop by 24%

Fewer cars were rolled out on the road in the first three months with figures out today suggesting a dramatic drop in sales.

There were 1,180 less newly licensed cars when compared to the same period last year, figures released by the National Statistics Office show. This accounts for a 24% drop in new cars on the road.

The decrease in passenger cars was reflected in both new and second-hand car sales.

The NSO figures show that there were 3,752 newly licensed passenger cars in the first quarter, of which 38% were new vehicles. The total number of newly licensed vehicles (all types) stood at 5,269.

Passenger cars made up 71.2% of all newly licensed vehicles in the first three months.

The numbers come on the back of an economic slowdown forced by the COVID-19 pandemic that has shut businesses and impacted people’s incomes.

The overall statistics show that the stock of motor vehicles (all types of vehicles) numbered 397,391, down by 117 when compared to the previous quarter. This was the first downward movement in years.

Out of the total, 77.1% were passenger cars (ordinary cars), 13.8% were commercial vehicles, 8% were motorcycles, quadricycles and ATVs, while buses and mini buses made up less than 1%. 

Fossil fuels remain king

59.5% of motor vehicles on Maltese roads were petrol powered, while 38.9% had diesel powered engines.

Electric and hybrid motor vehicles only make up 1.2% of vehicles, with a total of 4,803 vehicles.

Compared to the previous quarter, increases of 6.6%, 14.3% and 7% were registered in the electric, hybrid/diesel and hybrid/petrol motor vehicles.

The NSO said that during the first three months of 2020, 8,670 vehicles were removed from roads due to restrictions.

Of the vehicles removed, 46.8% were garaged, 27.3% were put up for resale and 23.6% were scrapped.