The UK new car market is continuing to fragment with premium brands taking a larger market share, claims Glass’s Information Services, which monitors prices and market trends.
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According to Glass’s, sales figures for the first quarter show Audi, BMW and Mercedes Benz all growing while volume manufacturers, such as Ford, Renault and Peugeot have lost business.
Managing editor Adrian Rushmore said: “The premium brands have started the year particularly well and continue to take sales from the volume manufacturers. The problem for those who have had a poor March is they will spend the rest of the year trying to catch up.”
Glass’s is also warning that increased National Insurance contributions [which fund welfare benefits in the UK] and rising council [property] tax bills taking effect this month may take the shine off demand for both new and used cars.
“The positive momentum of used car business should continue between now and Easter. However the increases in personal taxation, both of which take effect this month, may cause a few potential customers to reassess their priorities,” Rushmore said.
