Fleet registrations prop up market in November
SMMT data shows that fleet registrations for November were up 6.1% compared to the same month the year before, reaching a total of 69,443 units.
Sub 25 fleet registrations showed even more positive growth, up 13.3% to 6,079 units compared to November 2009.
This compares to a decline of 26.3% in private registrations, which declined for a fifth successive month following the ending earlier this year of the Scrappage Scheme. However, the SMMT said that the decline in private registrations was less steep than expected, possibly due to some buyers bringing forwards their purchases in advance of the January VAT rise.
Year to date, fleet registrations are up 10.7% while business registrations are up by 0.4%. However, the retail sector remains down in comparison to the first 11 months of 2009, by a total of 2.7%.
Paul Everitt, SMMT chief executive, commented on the forecast for full-year figures. 'Registrations are expected to fall next month, but demand may benefit from motorists looking to avoid the January VAT rise. This factor, coupled with the strength of the first half of 2010, means year-end volumes are expected to lift to over 2.03 million units, 2% up from last year. Next year will continue to be challenging as consumer spending tightens and government’s austerity measures take effect.'