New Car Sales Fall By A Fifth In February

BettiePage

Sky News.
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New car sales fell 21.9% last month compared with February 2008, latest industry figures show.

There were 54,359 new vehicles registered in February, the Society of Motor Manufacturers and Traders said.

Following a 30.9% decline in sales in January, the fall was less sharp than expected.

But the SMMT said: "The market remains subdued. The falling value of stocks and shares, weak economic data and increasing number of job losses all continue to dampen consumer confidence and the willingness to spend on large items like cars."

The only car type to buck the downward trend was the mini sector, which was 47.3% up on February 2008.

The Ford Fiesta was the UK's best-selling model in February for the fourth successive month.

February's Top Ten Best-Sellers

1. Ford Fiesta
2. Ford Focus
3. Vauxhall Corsa
4. Vauxhall Astra
5. Volkswagen Golf
6. Vauxhall Insignia
7. Volkswagen Polo
8. Honda Jazz
9. Vauxhall Zafira
10. BMW 3 Series.


The SMMT said the new car market was expected to fall to 1.72 million units this year.

This compares with total annual sales of 2.13 million in 2008 and 2.4 million in 2007.

This month sees the arrival of the new 09 number plates, normally a signal for a big sales boost.

But the SMMT said it expected March sales to decline in line with the reductions seen over the first two months of this year.

SMMT chief executive Paul Everitt said: "New car registrations continue to decline and although the Government recognises the strategic importance of the UK motor industry, urgent action is still needed.

"Other European countries have been proactive in assisting their automotive industries and it is imperative that the UK Government increases the pace in responding to industry proposals for a scrappage scheme and access to finance and credit."

BenL

I saw on the bbc website that there were 3600 ish Fiestas sold.

About 900 Ford Dealers i think in the UK, not many targets being hit.

itsnever2lateisit?

Only one of the top 10 is built in the UK, so this decline is good for the balance of payments, if nothing else. Except, of course, cars are not being exported either:eek:

kennyboy66_2

BettiePage wrote: »

The SMMT said the new car market was expected to fall to 1.72 million units this year.

As an illustration of how bad things are for car manufactures, only 2 years since 1982 saw fewer car sales than 1.72 million units.

Old_Slaphead

Local main Toyota dealer has increased prices on 1 & 2 y/o 2nd hand range. Says they're selling well !!!

(nb not falling for that one - they'll be reducing prices soon m'hopes - I'll go back end March see if he's still as cocky)

ad9898_3

I just think it's inevitable, credit is required to buy new cars, almost as much as houses are. I think the car industry faces capitulation. Easy credit/mewing has stopped, and so has the car industry.

BettiePage

I suppose the telling time will be this months figures with the new plates due.