New car registrations in Britain fell 3.4% in May on a year ago, the latest evidence that a series of interest rate rises up to last August have dented Britons’ appetite for major purchases, Reuters reported.
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The Society of Motor Manufacturers and Traders reportedly said there were 187,900 new car registrations last month compared with 179,457 units in April, which were down 4% on the same month last year.
Year to date registrations were down 6%, at 1,068,862 compared with 1,137,488 at the same time last year, Reuters added.
The SMMT, which is predicting a 4.6% decline in car registrations for the full year 2005, told Reuters the slowdown was generally in line with expectations.
“This month’s figures remain stable, despite a slight dip compared to last year’s near record levels. The industry is proving resilient as it rides out weakening consumer confidence and the short-term problems associated with MG Rover,” SMMT chief executive Christopher Macgowan reportedly said in a release.
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