Glass’s Market Intelligence Service reckons the UK general election this May could have a positive impact on new car sales which have been trending down so far this year.
Go deeper with GlobalData
“Analysis of the new car market over the past 50 years indicates that there was an increase in registrations in all but two of the 13 years in which a general election was called. In six of these years, the growth in sales set a new record,” Glass’s said.
“In addition, with just one exception, the actual months in which the last six elections took place saw a distinct uplift in new car sales. The various historical precedents therefore suggest that a sales boost, albeit a temporary one, could be a distinct possibility in 2005.”
Glass’s said that if the pattern of UK new car sales growth during election years is repeated in 2005, it would be less of a negative result than that predicted by most industry analysts, who forecast a modest fall in registrations compared to last year.
“Following the 2003 new car sales peak we saw a slight decline during 2004,” said a spokesman. “Most industry analysts predict a further decline for 2005 but, if history is anything to go by, this year’s general election could possibly make some of the industry’s more negative forecasts look slightly pessimistic.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
