UK car registrations decline in May – SMMT figures
After hitting record peaks in 2016 and early 2017, the UK’s new car market saw a significant decline in May. New passenger car registrations declined 8.5 per cent, with a total of 186,265 units. In 2017 overall, the market is 0.6 per cent lower than last year, with more than 1.1 million cars registered between January and May. Alternative fuel vehicles (AFVs) continued their impressive 2017 growth in May, 46.7 per cent higher than in 2016, with a total of 8,258 AFVs registered making 47,936 so far this year. The National Franchised Dealers Association (NFDA) argued that the general election’s short-term impact on consumer confidence has been the key factor, and that medium term prospects remain good for another record-setting year. However KPMG analysts were more taciturn, suggesting car manufacturers have turned their attentions to Europe and expecting a steady decline in 2017.