The number of new cars sold in December fell by 21.2 per cent to
108,691 (Dec 07: 137,960), a fitting end to a dismal year for car
retailers.
The Society of Motor Manufacturers and Traders (SMMT),
which unveiled the statistics earlier today, announced that new car
registrations in 2008, at 2.13m, fell by 11.3 per cent compared
with 2007.
Go deeper with GlobalData
Fleet registrations for December fell by 18.5 per cent to
63,153, while for the year to date they fell by 7.1 per cent to
1,109,963 – outperforming private registrations, which fell by 14.7
per cent to 892,259.
Chief executive of the SMMT, Paul Everitt blamed the “crisis in
the international banking and finance sector” and related economic
downturn for the “unprecedented” crisis facing carmakers and motor
retailers.
“The measures taken by government to support the banking sector
and kick-start demand have been necessary, but are not yet
sufficient to restore confidence. Further action to ease access to
finance and credit across the economy is essential if long-term
damage to valuable industrial capability is to be avoided,” Everitt
said, highlighting the importance of motor finance.
This year will be “another difficult year” for the UK motor
trade, he predicted, with production and sales to fall further. The
SMMT estimates that 2009 will see new car registrations of 1.78m, a
16 per cent fall on last year’s total, and the lowest annual figure
since 1992.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The extraordinary circumstances we currently face mean that
government support will be required to take advantage of global
economic growth when it returns,” Everitt added.
