Fleet sector “supports the market” as private registrations continue to fall
The report suggests that the sluggish nature of economic recovery, high inflation and modest wage growth have dampened consumer spending confidence, with the impact of the scrappage scheme largely affecting private registration volumes so far. However, the overall -3.5% decline in July registrations was broadly in line with expectations, given the tough economic climate, with sharper falls having occurred earlier in the year.
The Ford Fiesta was the best-selling model in the overall new car market, both throughout June and year-to-date, followed then by the Ford Focus and the Vauxhall Corsa in both areas.
Petrol registrations were down by -6.6% on last July's figures, with registrations of diesel witnessing an almost unnoticeable fall of 0.1% on July 2010 figures. Over the year-to-date, the market share for diesel registrations has now reached 50.2% (up 6.6% on 2010), whereas the year-to-date market share for petrol registrations currently sits at 48.5% (down 17.7% on 2010).
Paul Everitt, SMMT chief executive, said: 'Robust demand in the fleet sector helped to bolster weaker private demand. While the coming months remain challenging, performance in the second half of 2011 is expected to keep the market on course to reach around 1.93 million units.'For more of the latest industry news, click here.