Fleet registrations up 6.5% in April
Meanwhile registrations within the sub-25 business sector were also up, rising 12.2% to 6,794 units. However, the retail sector continued to decline, falling 23.5% to 53,835 units. As a result, overall registrations were down 7.4% on April 2010.
The rises in fleet and sub-25 business registrations have further increased the market share held by these sectors, with fleet now holding a 56.0% share, compared to 48.6% in April 2010, while the business sector has increased its percentage from 4.1% to 4.9%.
Year to date, the fleet market is up by 2.2% and now holds a 50.6% market share, compared to 45.4% for the first four months of 2010. The business sector has also increased, up by 6.6% and now holding a 5.6% share, compared to 4.8% last year. Retail registrations are down 19.6% however, and the total market has decreased by 8.5%.
'New car registrations in April demonstrated continued stability in the marketplace, with demand remaining lower than in 2010, although slightly ahead of industry expectations,' said Paul Everitt, SMMT chief executive. 'The coming months will remain challenging, but we do expect to see a return to growth in the second half of the year.'For more of the latest industry news, click here.