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UK car sales for the first five months of 2003 were down 2.9% year on year to 1,107,311 units, according to the Society of Motor Manufacturers and Traders (SMMT).
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Putting its usual upbeat spin on the result, the SMMT said: “Volumes have gently dipped from 2002’s record levels, but the market remains firm and is above expectations, considering increased economic uncertainties.”
The new car market in May was down 4.1% to 200,059 units.
Over the first five months of 2003 private registrations took 50% of the market while company car demand fell 4.4% in May, to 41.6%.
The SMMT said its full year forecast of 2.45 million units should be comfortably achieved, even though volumes are expected to moderate further in the second half of the year.
“With the registrations over the past 12 months at 2.53 million units the market has remained stronger than expected,” the trade group added.
