UK car sales rise for first time in over a year

ERJ staff report (DS)

London -- UK New car registrations in August rose for the first time since June 2010, up 7.3 percent to 59,346 units according to new data from the UK's Society of Motor Manufacturers and Traders (SMMT). August represents a relatively small share of the new car market, as it is the month prior to a new registration plate code. “The September new car market is always important for the UK motor industry, accounting for around 17 percent of the full year's registrations said Paul Everitt, SMMT Chief Executive

Registrations in the first eight months of the year have fallen by 6.1 percent or by almost 79,795 units. Given the downgrade in economic growth forecasts, the outlook for the new car market is set to remain challenging. SMMT forecasts the full year market to end on 1.93 million units, a 5 percent decline on the 2010 market and down from the current 1.95 million running rate.

The growth in August reflected recovery within the private sector, which grew 10.7 percent in August, the first rise since June 2010. The fleet market continued to grow in August and is up by 3.3 percent over the first eight months of the year.

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Press release from SMMT