New car sales continue to struggle amid Brexit uncertainty - SMMT
By Duncan Ferris
Date: Tuesday 05 Nov 2019
(Sharecast News) - New car registrations in the UK fell by 6.7% in October as economic and political uncertainty continued to impact confidence, according to data released on Tuesday by the Society of Motor Manufacturers and Traders (SMMT).
This drop meant that 10,348 fewer cars were registered than in October last year, with the decline driven by a 13.2% reduction in registrations by private consumers.
Business demand also fell, while fleet registrations edged 0.3% higher.
In the year to date, the UK's new car market has declined by 2.9% compared to the same period last year, with the SMMT stating that this reflected confusion over diesel and clean air zones, stunted economic growth and uncertainty over Brexit.
Among different varieties of car, electric vehicles soared in popularity compared to the same month last year, with registration of electric hybrids climbing by 28.9% and the number of battery-powered vehicles leaving showrooms leaping by 151.8%.
On the downside, the number of diesel and petrol cars that rolled out onto the tarmac dropped by 28.3% and 3.2% respectively.
SMMT chief executive Mike Hawes said that, while growth in alternatively fuelled vehicles was welcome, the market remained in need of an injection of confidence.
"Whether the general election delivers a 'bounce' to the economy remains to be seen, but with attractive deals and an ever-greater choice of low, ultra low and zero emission models arriving in the UK's showrooms, consumers have every incentive to consider buying a new car," said Hawes.
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