Economic downturn causes dip in July’s new car market

New car registrations fell 3.5% in July to 131,634 units, according to the SMMT (Society of Motor Manufacturers and Traders).

Market down 6.7% over the year-to-date with the 13th successive monthly decline in volumes.

Fleet purchases support the market, up 2.1% in July and by 3.3% over the year-to-date.

Market remains on track to meet full year forecast of 1.93 million units.
 
“New car registration figures fell marginally by 3.5% to 131,634 units in July, reflecting the impact of slower economic growth and subdued consumer confidence,” said Paul Everitt, SMMT Chief Executive. “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.”