New car sales dropped by 8% to just over 366,000 even though the 11 registration plate was launched last month says the Society of Motor Manufacturers and Traders. The car scrapping scheme that ended a year ago this month makes this March the last month to be compared with the boost that was received from the scheme.
The market has remained on course says SMMT’s Paul Everitt, chief executive, despite the decline versus the same time last year, and the forecast should be met with motorists starting to invest in fuel-efficient low emitting vehicles. For each of the last nine months, new registrations have declined but thankfully March’s decline was far less than the over high double digit declines that happened in both January and February.
After getting rid of the effect from scrappage of a year ago, March sales fell by only 6% says SMMT and was much less than expected. Deloitte’s David Raistrick said he expects new car sales to fall below 2 million since the consumer confidence is very brittle. The total number of car sales was expected to fall below the 1.9 million mark while car sales last year were just above two million.