New car registrations here in the UK fell 21.2% in December to 108,691 units and the full year total was down 11.3% to 2,131,795 units from 2,404,007 in 2007.
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Despite spiking prices that widened the gap with cheaper petrol, diesels’ market share reached an all-time high of 43.6%.
Average new car CO2 emissions fell by a record 4.2% to an average of 158.0 g/km in 2008, a reduction of 16.8% since 1997, the Society of Motor Manufacturers and Traders (SMMT) said.
“The global economic downturn, precipitated by the crisis in the international banking and finance sector, created unprecedented challenges for the UK automotive industry in 2008,” said chief executive Paul Everitt.
“The measures taken by government to support the banking sector and kick-start demand have been necessary, but are not yet sufficient to restore confidence. Further action to ease access to finance and credit across the economy is essential if long-term damage to valuable industrial capability is to be avoided.
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By GlobalData“2009 will be another difficult year for the UK automotive industry with new vehicle registrations and production significantly reduced. The industry faces these challenges stronger and more resilient than in recent memory. The extraordinary circumstances we currently face mean that government support will be required to take advantage of global economic growth when it returns.”
New commercial vehicle registrations fell 22% last month to 20,323 units and were off 10.7% to 346,873 for the year.
Van sales were down 26.6% last month and 14.3% for the year but trucks were up 5.8% last month and 13.1% for the year.
“The year ended well for truck registrations, while vans continued down but not as fast as in November,” said Everitt.
“After the abrupt end to buoyant registrations in 2008, we’re looking to the year ahead with caution rather than trepidation. Consumer and business demand will be low as we see the first big recession since the early 1990s. Spending will stabilise in the second half of the year; with costs falling, credit markets recovering and government policies supporting recovery.
“Confidence to invest in new vehicles will return, but the revival may be slow, taking some years to repeat recent record volumes.”
