New car market declines in traditionally quiet February

“The new car market has performed as expected in the short month of February, down -2.8% with 80,805 units”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) commenting on today’s SMMT’s new passenger car registration figures.

New passenger car registrations in the UK declined by -2.8% in February compared with last year with a total of 80,805 units. While registrations of diesel car declined by -23.5%, demand for petrol cars rose substantially by 14.4% and alternative fuel vehicles grew by 7.2%, with a market share of 4.4% in February and 5.1% overall in 2018.

Robinson continued, “Year to date the market is -5.1% lower than last year but remains at high levels. February is one of the smallest months in volume terms and has a marginal impact on the overall yearly figures.

“Encouraging notes come from the used car market, which NFDA car retailer members report to remain buoyant. At the same time, the 7.2% growth in the alternative fuel vehicle segment shows that more needs to be done to encourage a consistent uptake of these vehicles as their market share remains low.

“We look forward to the traditionally strong month of March, where customers can usually take advantage of substantial discounts and offers resulting from the plate change.”