UK new car registrations were down 7.9% in March as the post-scrappage decline to the UK car market continued.
Data from the SMMT showed that 366,101 new cars were registered in March, which the SMMT said was ahead of expectations. Indeed, the SMMT said that if scrappage volumes are excluded, the March market was 5.9% on 2010.
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New car registrations in the quarter one fell 8.7% to 558,336 units.
The SMMT is holding firm on its forecast for the year, sticking with a projected drop of 5% to 1.93m units.
“The UK saw 366,101 new cars registered in March, demonstrating sustained demand in what is traditionally the biggest month of the year,” said Paul Everitt, SMMT Chief Executive. “Despite a dip versus 2010, the market remains on course to meet SMMT’s forecast for the year with motorists buying increasingly fuel-efficient and low emitting vehicles across every segment.”
The Ford Fiesta was the best selling model in the month and Q1. Supermini volumes fell during March, although their market share edged up to 38.4%. Lower medium cars saw a sharp drop in demand, likely linked to changeover to new models, whilst demand for luxury saloon, MPVs and executive cars rebounded, the SMMT said.
While comparisons with 2009 and 2010 are distorted by the scrappage scheme, volumes remain well below pre-recession levels. Between 2004 and 2008, March averaged almost 450,000 units and the annual outturn was above 2.4m units.
