New car market decline continues, February figures show

Demand for diesel falls again but its on the rise for petrol and alternatively fuelled vehicles

New car market decline continues, February figures show
Year-to-date market for new cars is down 5.1 per cent, with 244,420 units registered nationwide.

The UK new car market dipped in February, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).

80,805 new cars were registered, a 2.8 per cent drop compared with February 2017, in what is traditionally one of the quietest months of the year ahead of the March number plate change.

Continuing recent trends, demand for petrol and alternatively fuelled vehicles (AFVs) rose in February, up 14.4 per cent and 7.2 per cent respectively, with the former driven by some new, smaller models coming to market.

Registrations of new diesel cars declined 23.5 per cent.

Market decline

So far this year, the UK new car market has declined 5.1 per cent, with registrations by business, private and fleet buyers all down, 29.8 per cent, 7.1 per cent and 2.1 per cent respectively.

Meanwhile, double digit growth for petrol and AFVs has been unable to offset the move away from diesel, which now commands a 35.6 per cent market share.

Mike Hawes, SMMT chief executive, said: “Although the new car market has dipped, it remains at a good level despite the drop in demand for diesel.

“Consumers should be reassured, however, that the latest cars are the cleanest in history and can help address air quality issues, which is why they are exempt from any restrictions.

“Looking ahead to the crucial number plate change month of March, we expect a further softening, given March 2017 was a record as registrations were pulled forward to avoid VED changes.”

Home Page Forums New car market decline continues, February figures show

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