New car sales continue downward slide as consumer confidence remains fragile
New car registrations fell 6.7 per cent in October, figures released today showed.
Private demand plunged 13.2 per cent, while fleet demand remained stable, according to data from the Society of Motor Manufacturers and Traders (SMMT).
The SMMT said 10,348 fewer cars were registered than in October last year, which it said reflected a tough environment for businesses and consumers as economic and political uncertainty continued to impact confidence.
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Alternatively fuelled vehicles reached a record 9.9 per cent market share with 14,231 registered.
Electrified cars continued to grow in popularity. Hybrid electric cars increased by a +28.9 per cent, with 7,950 sold, as battery electric vehicle registrations almost tripled, up +151.8 per cent to 3,162 units.
Registrations of diesel cars fell for the 31st month, down -28.3 per cent, while petrol vehicles also declined, by -3.2 per cent.
Year-to-date, the new car market continued to decline, down -2.9 per cent on the first 10 months of 2018.
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Mike Hawes, SMMT chief executive, said: “The growth in alternatively fuelled cars is very welcome, showing increasing buyer appetite for these new technologies. The overall market remains tough, however, with October now the year’s eighth month of decline and in need of an injection of confidence.
“Whether the general election delivers a ‘bounce’ to the economy remains to be seen, but with attractive deals and an ever-greater choice of low, ultra low and zero emission models arriving in the UK’s showrooms, consumers have every incentive to consider buying a new car.”
Howard Archer of EY Item Club said: “New car sales have been driven down by a number of roadblocks – business and consumer caution over making major purchases, sharply reduced demand for diesel cars amid environmental concerns and stricter emission regulations affecting supply.”