Fleet sector buoyant.
Good news! According to SMMT (The Society of Motor Manufacturers and Traders Limited), the fleet sector was the only motor industry sector to maintain growth throughout June despite a difficult trading climate and economic decline. A two per cent growth makes the fleet sector account for over half of the market in the first half of this year.
The retail sector was less lucky. In line with a reduction in consumer spending and a reduction in consumer lending, SMMT reported that June saw the largest decline in new car demand so far this year, with a 6.1% reduction. However sale of vehicles which fall into a VED band A, have increased tenfold in the past year to reflect environmental and cost pressures. Paul Everitt, SMMT chief executive is not surprised by the results;
“We are now seeing concerns about rising fuel bills and household cost dampening consumer confidence.”
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