8:52 pm, November 4, 2011
NEW car registrations were 2.6 per cent up in Otober, the latest figures from the SMMT reveal.
Registrations rose by 2.6 per cent in the month to 134,944 units, the second increase in three months.
‘October’s new car market rose 2.6 per cent on last year – a positive result despite the uncertain economic climate,’ said Paul Everitt, SMMT chief executive.
‘Vehicle manufacturers and their dealer networks are working hard to offer consumers value for money through improved fuel efficiency, low running costs and innovative finance.
‘We expect market conditions to remain challenging and hope the Chancellor’s Autumn Statement later this month will help to boost economic growth and consumer confidence.’
Sue Robinson, director of the RMI National Franchised Dealers Association (NFDA) said: ‘While it is positive that new car sales were up in October, this was due to the strength of the fleet sector. Private registrations were in fact down 4.3 per cent on October 2010.
‘The economy remains very fragile with external factors such as the European debt crisis affecting its stability. Although last week’s news that GDP was up 0.5 per cent gives encouragement, consumer confidence remains low. The Chancellor needs to address the lack of consumer confidence in his autumn statement on the November 29 by reviewing initiatives that could boost spending.’
