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The Markets
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Coronavirus takes further toll on auto industry as Bentley cuts 1,000 jobs

UK car sales have fallen off a cliff in the past two months

Bentley, the British luxury carmaker owned by Volkswagen, will axe around a quarter of its workers as car sales slump.

The car manufacturer's confirmation on Friday that it plans to cut roughly 1,000 jobs under a "voluntary release programme", comes a day after news that overall UK new car sales in April and May slumped to their lowest levels since the 1940s and 50s.

Bentley, which in May said a quarter of its workforce had been put on the government furlough scheme, said it cannot rule out future compulsory redundancies.

Earlier in the week, fellow luxury British carmaker Aston Martin announced it was reducing its headcount by 500 and car dealership chain Lookers said it was cutting up to 1,500 jobs and closing 12 sites.

Data from the carmaking trade body SMMT revealed 20,000 new cars were registered in the UK in May, down 89% year-on-year.

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