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UK new car market sees decline

UK new car market sees decline

The UK's new car market declined 1.6 per cent in January, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT).

161,013 new cars were registered for use on UK roads, with trends in fuel choice seen last year continuing in the first month of 2019.

Following a decline in December, private buyers returned to showrooms – up 2.9 per cent – registering 71,378 models in the month. Conversely, demand from business and fleet buyers fell by 33.5% and 3.4 per cent respectively.

Meanwhile, appetite for alternatively fuelled vehicles grew 26.3%, resulting in a total 6.8 per cent market share. The performance supports the latest forecast for this sector, currently expected to rise more than a quarter by the end of 2019 to around 177,000 units. Some 86,000 of these cars are set to be ultra low emission plug-in hybrids and battery electrics – taking plug-in market share to around 3.7 per cent as an ever-increasing number of models come on sale.

Petrol demand also grew in January, up 7.3 per cent, but this was not enough to offset another month of decline for diesel, as registrations fell 20.3%.

Mike Hawes, SMMT chief executive, said, 'It's encouraging to see car registrations in January broadly on par with a year ago as the latest high tech models and deals attracted buyers into showrooms. This, however, is still the fifth consecutive month of overall decline in the market. To restore momentum, we need supportive policies, not least on vehicle taxation, to encourage buyers to invest in new, cleaner vehicles that best suit their driving needs – from the latest petrols and diesels to an ever growing range of exciting electrified vehicles. This would be good for the environment and good for the industry and those who depend on it.'

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