UK new car registrations gain in November

New car registration advanced in November, bouncing back from a first decline in almost four years, figures released on Friday showed.

According to data published by the Society of Motor Manufacturers and Traders (SMMT), new car sales rose 3.8% year-on-year in November, compared with a 1.1% decline in the previous month.

“Car sales have recovered from their October dip, but the underlying trend probably is flat,” said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.

“November’s sales might have been boosted by some consumers delaying their purchases from October when the VW emissions scandal hit the headlines.

“Meanwhile, unsecured credit is no longer getting cheaper and a small majority of lenders reported to the Bank of England’s Credit Conditions Survey in the third quarter that they intend to reduce loan supply.”