NEW CAR MARKET SHOWS SMALL DECLINE IN OCTOBER
October’s small decline in new car sales shows that WLTP continues to distort the market and constrain the supply of new vehicles to the UK. New passenger car registrations declined by -2.9% in October with 153,599 units registered. Year to date, the market is -7.2% down from last year with 2,064,419 new cars registered. Sales of petrol cars rose by 7.1%, diesel was down -21.3% and alternative fuel vehicles grew by 30.7%.
NFDA is encouraged by the strong sales of used vehicles and the continuously increasing market share of AFVs, whose sales were up 30.7% in October. It is vital that this key segment of the market continues to be supported by the Government.
Despite short-term challenges, consumer footfall remains strong. Retailers are working hard to inform UK motorists about the new generation, WLTP compliant diesel and petrol cars as well as electric and plug-in hybrids, where consumers’ confidence still needs to be supported.
As stock supply improves, we expect the market to perform better going forward and, in particular, in the first quarter of 2019.
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