The UK new car market declined by -6.8% in 2018, with annual registrations falling for a second year to 2,367,147 units, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). A -5.5% decline in December capped a turbulent year of model changes, regulatory upheaval and continued anti-diesel policies, adding to the ongoing decline in consumer and business confidence.1
Private, fleet and business registrations all fell in 2018, with the biggest losses felt in the fleet sector (down -7.3%), while private motorists and smaller business operators registered -6.4% and -5.6% fewer new cars respectively.
Demand also fell across all vehicle segments bar the dual purpose category, which grew by +9.1% to take a fifth of the market (21.2%). Despite registrations of superminis and lower medium cars falling by -2.5% and -9.4% respectively, these smaller vehicles remain the most popular – with a combined 58.7% market share.
The biggest volume decline was seen in the diesel sector, down -29.6% in 2018, with the volume loss equivalent to some 180% of the overall market’s decline. Anti-diesel rhetoric and negative fiscal measures took their toll, with December marking the 21st consecutive month of decline for the fuel type – despite new emissions tests showing diesels deliver in the real world. Growth in registrations of petrol (+8.7%) and alternatively fuelled vehicles (+20.9%) replaced some of the loss but not enough to offset the full shortfall as many diesel owners adopt a ‘wait and see’ approach, keeping hold of their older, more polluting vehicles for longer.
Please click here to view the full press release.
SOURCE: SMMT
