Markets

Economic Buzz: UK Car Sales Down 5% This Year

Economic Buzz: UK Car Sales Down 5% This Year

Sales of new cars in the United Kingdom fell by more than 11% in November compared with the same month in 2016, with sales of diesel cars worst hit.

Richard Jones, the managing director of Black Horse, which is one of the UK's leading motor finance providers, said: 'These figures show the new vehicle market continues a trend of moving to a more sustainable position.

Companies cut back on new cars the most, with business registrations slumping by 33.6%.

New auto registrations continue to fall in the United Kingdom, with figures for November 2017 showing an 11% drop, with diesels sales down 31%.

Sales of new diesel cars were down 30.6 percent in November compared with 12 months earlier.

The SMMT said the figures reflected Government policy, which includes the ambition of banning the sale of new all petrol and diesel engine cars by 2040.




Alternatively fuelled vehicles made a huge gain, though, growing by 33.1 per cent, while petrol cars saw a gain of five per cent. Fleet registrations were down 3.9% to 1,228,967 units, with "Business" registrations down 5.4% to 92,226 units and private demand down 6.3% to 1,066,951 units.

According to the figures released by the Society of Motor Manufacturers and Traders (SMMT), it was the eighth consecutive month the United Kingdom new auto market had declined.

The UK's new vehicle market declined 11.2% year-on-year in November, according to figures from the Society for Motor Manufacturers and Traders (SMMT).

The industry has hit out at Chancellor Philip Hammond and the government for its "anti-diesel message" that it claims will "discourage drivers from trading in their older, more polluting cars".

Hawes explained that the decrease in fleet registrations will have a marked impact on the UK's air quality improvements, with "detrimental environmental and economic consequences" if the market continues to shift away from the newest, cleanest diesels. "Widespread confusion has hurt the market over the course of the year, so drivers need clear information about what charges or other restrictions both the latest, Euro 6 diesels, and older vehicles might face so they can make better informed auto buying decisions".


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