New car registrations return to growth
NEW car registrations picked up again during November after an unexpected decline in the previous month, latest figures have shown.
October’s decline in new car registrations ended a run of 44 months of consecutive growth and many commentators were predicting the end of a golden age for the UK new car market.
However, manufacturers will be cheered by the results for November, which show new car registrations climbed almost 4% during November compared with the same month last year – putting the industry back on track for growth.
Figures released by The Society of Motor Manufacturers and Traders (SMMT) show 178,876 cars were registered in November, an increase of 3.8% over the same month in 2014.
In the first 11 months of the year, the overall market has seen growth of 6.2% – even factoring in the October decline. In the year to date, 2,453,426 new cars have been registered.
However, while the private and fleet sectors are sustaining growth, the business sector is struggling, with the SMMT figures showing a near 32% decline in November compared to 12 months ago.
Mike Hawes, SMMT chief executive, said: “November’s figures come as a reminder of the strength of the UK car market, as low interest rates and competitive finance deals continue to attract consumers to new car ownership.
“We have been expecting a levelling-off in demand for some time now – a development that is being realised following an unprecedented three-and-a-half years of non-stop growth.”
However, one manufacturer which has definitely not seen a levelling off is Jaguar Land Rover.
The twin brands demonstrated their continued popularity by recording growth of 66% and 94% respectively during November.
The launch of the XE is continuing to spearhead growth for Jaguar and as winter approaches, the 4×4 market is showing a healthy upturn for Land Rover, which makes the Evoque at Halewood, Merseyside.
The figures are in sharp contrast to Volkswagen, where the full implications of the emissions scandal are now starting to show.
Sales for the German manufacturer were down 20% last month in the UK and its previously popular Polo has dropped out of the list of Top 10 bestsellers (although it retains sixth place for the year to date).
Sales of VW stablemate Audi were also down (4.4%) – which will please Jaguar – although rivals BMW and Mercedes-Benz both stayed positive.
