The Society of Motor Manufacturers and Traders‘ (SMMT) latest figures show that new car registrations in the UK dropped -6.7% in October, as consumer confidence remains weak. Anna Tobin reports
The SMMT October figures show that new car registrations in the UK dropped -6.7% in October and for the year-to-date, the market is down -2.9%, with 58,897 fewer cars registered in October 2019 than in October 2018. The SMMT reasons that this is due to the tough environment for businesses and consumers with economic and political uncertainty over Brexit continuing to hit confidence.
“The growth in alternatively fuelled cars is very welcome, showing increasing buyer appetite for these new technologies. The overall market remains tough, however, with October now the year’s eighth month of decline and in need of an injection of confidence,” said Mike Hawes, chief executive of the SMMT. “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.”