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NEW CAR MARKET BOUNCES BACK IN APRILBack

It is positive to see that the new car market saw a strong performance in April with sales up 10.4% coupled with a used car sector which continues to go from strength-to-strength.  New passenger car registrations in the UK totalled 167,911 units in April. Last years results were affected by the introduction of the new vehicle excise duty.

Year-to-date market was down -8.8%, as uncertainty continued to affect overall market.  Despite diesel registrations falling by -24.9%, petrol registrations rose substantially by 38.5%%. Alternative fuel vehicles registrations rose by 49.3%, reaching a market share of 5.2% overall in 2018.

April’s figures confirm that the new car market remains at high levels and it is vital that we bear in mind both last year’s record performance and the lack of clarity regarding diesel.

It is encouraging to see that sales of alternative fuel vehicles grew again; however, our evidence suggests that many consumers remain undecided as to the next type of fuel they will purchase. Industry and government must work together to ensure that motorists receive clear guidance and information on diesel and other fuels.

Overall, we expect the market to continue to recover gradually and meet initial predictions by the end of the year.

If you would like to receive the monthly registration figures please email louise.woods@rmif.co.uk

 

Posted by Sue Robinson on 04/05/2018