New car registrations fall in July
“A drop in private registrations compared to the scrappage-fuelled months of 2009 was expected and has brought the first market decline for 12 months,” said Paul Everitt, SMMT chief executive. “Subdued consumer confidence and a still fragile economic recovery make the outlook for the remainder of 2010 challenging, but a stronger than expected first half means full year volumes are still forecast to exceed 2009’s total.”
Here are some key stats:
- New car registrations fell 13.2% in July, following 12 successive monthly rises;
- Market remains up 15.1% over the first seven months of 2010 compared to 2009;
- 2010 new car market expected to total 2.018 million units, 1.2% above 2009 market, according to SMMT’s revised forecast;
- Diesel share hits record high of 50.6% in July, whilst AFVs also hit a record 1.4% share;
- Market expected to slow in second half of 2010, but remain broadly stable over full year.
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