New car registrations have continued their decline with November’s 11.2% year-on-year fall marking the eighth consecutive month of falling sales.
Signs that the retail-driven new car market might have started to falter towards “a significant downturn” are starting to ask questions of dealers’ preparedness, says Duff & Phelps.
Consumer new car finance volumes fell by 11% but continued to rise in value according to figures released by the Finance and Leasing Association (FLA).
While the government continues to be accused of ‘demonising diesel’, registrations of new diesel cars in October fell by almost 30%.
New car registrations are predicted to fall to 2.565 million units this year – a 4.7% drop on the record figure of 2.693m sales last year.
Short-term pushes based on limited new model launches leave car manufacturer brands liable to sharp falls.
September’s 9% decrease in UK new car registrations has been reflected by a 4.1% reduction in vehicle production in the nation’s manufacturing facilities, the SMMT has reported.
The SMMT has blamed uncertainty surrounding the future of diesel cars and a Brexit-induced hit to consumer confidence for a 9.3% slump in new car registrations during September.
Data complied by AID has revealed a “fast fading interest in diesel” as West Europe’s diesel sale shares dropped to 42.8% in August.
Car manufacturers' lure bonus payments and VAT incentives is continuing to push new vehicles onto car dealers books, the value of unsold stock rising 16% in a year according to UHY Hacker Young.
Domestic demand and exports dipped in August as UK car manufacturing experienced a 5.4% fall in production volumes, according to the SMMT.
China and India will boost worldwide sales growth in 2017 and 2018 as the market approaches 100 million new vehicle sales despite ongoing decline in the US and UK markets, according to Euler Hermes.
The John Clark Motor Group will grow through the post-Brexit period despite a “ongoing political uncertainty” and a “stable but fragile economy”, according to a statement made following the publication of its 2016 financial results.
New research from Carwow has revealed that millennials are renting or financing cars due to surging living costs and a desire to drive new vehicles.
New car customers are losing out on an average saving of £800 when purchasing a new motor because politeness prevents them from haggling with retailers, new research suggests.
Consumers change their cars more often than they do their smartphones as their mindset shifts towards “usership rather than ownership”, according to HPI.
The Motor Ombudsman has revealed that 54% of young drivers do not know where to turn when selecting a dealership from which to buy their new car.
New car registrations fell 6.4% in August but the SMMT expects “historically high levels of demand” to continue as motorists flock to buy September’s 67-plate vehicles.
Scrappage scheme fever gripped the UK as six car manufacturers launched incentive schemes aimed at boosting new car sales and reducing exhaust emissions.
Marshall Motor Holdings' chief executive Daksh Gupta said that the group was in a “great position to continue outperforming the market” after profit before tax rose 32.9% in a record set of interim results.
