“The decline in the retail market highlights an unchanging lack of consumer confidence” said Sue Robinson, Director of the RMI National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, commenting on the SMMT’s new car registration figures.
New car sales figures, released today, show month on month sales were down 3.7% compared to December last year. Year to date sales are down 4.4% on a year ago. While fleet volumes were up 4.7% year to date, private registrations were down 14.1% year to date, continuing the trend for 2011.
Sue Robinson continued “While the economy remains fragile and the Euro crisis continues to affect stability, consumer confidence remains very low. Many consumers are finding their finances constrained due to inflationary pressure on household bills and travel costs. Those who do have money to spare are putting off larger purchases until there are signs that the economy is starting on a road to recovery.
“We would urge the Government to take measures now to secure the UK economy and to bring back consumer confidence. The NFDA will be meeting with Danny Alexander, Chief Secretary to the Treasury, this month to request that action is swiftly taken to bring in measures to support growth and bring back confidence to consumers and business alike. If the Government do take action we believe that the economy will respond in a positive way.
“The NFDA forecast for the new car market, in conjunction with Deloitte, suggests that the total number of new car registrations for 2012 will be in the region of 1.84 million, a drop in the market from 2011.”
NOTES TO EDITORS: Keely Scanlan, Press Officer
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406
Web: www.rmif.co.uk Email: firstname.lastname@example.org The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.