New car registrations fell 36.8 per cent in the UK through November to 100,333 units according to data released from The Society of Motor Manufacturers and Traders (SMMT). The year-to-date volume is down 10.7 per cent to 2,023,104 units. However the diesel market share achieved record high of 47.0 per cent in November, driven by the range of appealing, economic and modern diesel vehicles. However private market particularly weak in November, down 45.1 per cent.
“Recent Government moves to address the economic situation should help stimulate the car market as we go into 2009, but we do expect to see some improvement this December, traditionally one of the quietest months for car dealers,” said Sue Robinson, Director of the RMI National Franchised Dealers Association (NFDA), which represents UK car retailers, commenting on car sales figures for November 2008 announced today.
Robinson continues: “The economic measures introduced in the Pre-Budget Report last month will take time to have an impact. Some consumers may have put off completing car purchases until after the VAT reduction took effect, so that they could take advantage of the 2.5 per cent saving.
“Many more will be waiting for the resulting economic stabilization, and for credit to become more readily available before considering buying a new car.”
The rate of decline in new car sales has steadily increased over the past seven months and the November fall is the steepest since June 1980.
