New car registrations fall 23%
Motor trades
7th November 2008
In news that is likely to cause concern throughout the motor trade, figures have shown that new car registrations fell by almost a quarter (23 per cent).
According to the Society of Motor Manufacturers and Traders (SMMT), the year-to-date registration volume is also down 8.8 per cent to just under 2 million units, while the 2008 forecast has been revised to 2.15 million vehicles.
SMMT chief executive Paul Everitt commented: "October has proved another difficult month for the UK motor industry and action is needed to help restore consumer confidence and encourage buyers back to the showrooms."
He called for interest rate cuts to be passed on to consumers and maintaining public spending on new vehicles as essential measures for the car industry.
The SMMT speaks on behalf of the UK automotive industry - which has a turnover of £51 billion - and promotes its interest in this country and abroad.
