New car registrations down 22.2% in October

New car registrations fell by 22.2% in October to 131,495 units, according to the Society of Motor Manufacturers and Traders (SMMT).

Market remains 4.8% up over the first ten months of the year, at 1,767,154 units.

Further declines likely in remainder of year, but 2010 market to be up 1.5% on 2009.

The market was on par with last October’s volume, with scrappage volumes excluded.

Diesel reaches best ever monthly market share of 54.7% and year-to-date share of 45.3%.

Paul Everitt, SMMT chief executive, said: “There was a significant fall in October’s new car registrations, reflecting the impact of the Scrappage Incentive Scheme (SIS) at this time last year and some deterioration in consumer confidence.  Total new car registrations in 2010 are forecast to be 2.026 million units, 1.5% up on 2009.

“The industry expects the coming months to be challenging with slow, but steady, economic growth feeding through to improved confidence and demand during 2011.”