UK car registrations decline for the first time in almost four years
New car registration in the UK fell for the first time in almost four years in October, figures released on Thursday showed.
According to data published by the Society of Motor Manufacturers and Traders (SMMT), new car sales declined 1.1% year-on-year in October, the first decline in 43 months, as 177,664 new cars were registered last month.
Private registrations and business registrations declined 2.6% and 22.8% month-on-month respectively, while fleet registrations rose 2.2%.
“The UK car market has gone through a period of unprecedented growth and, so far, 2015 has been a bumper year with the strongest performance since the recession,” said Mike Hawes, chief executive of the SMMT.
“As expected, demand has now begun to level off but the sector is in a strong position, as low interest rates, consumer confidence and exciting new products combine to attract new car buyers.
“The current full-year growth forecast remains on track.”
Meanwhile, in the first 10 months of 2015, new car sales registration rose 6.4% year-on-year to 2,274,550 units, marking the best year-to-date performance on record.