"Following over three and a half years of growth, the October market has stabilised after last month’s 65-plate change, said Sue Robinson, Director of 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 were down -1% after 43 consecutive months of growth. The total market year-to-date was up 4% with 2,274,550 units registered – the best performance on record.
Robinson continued, “As 2015 draws to a close, we are still seeing a strong market but as expected the market is beginning to slow down as we enter the final few months of the year.
“Low interest rates, consumer confidence and new products combine to attract new car buyers. The current full-year growth forecast remains on track, and we are encouraged that the growth and stability of the market will continue through the remainder of the year.”
NOTES TO EDITORS:
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.