New car registrations for the UK in October dropped 22.2 per cent year on year, the sharpest monthly decline since May 2009.
But according to the Society of Motor Manufacturers and Traders (SMMT), the 131,495 units registered in October will help contribute to ensuring 2010’s total registrations are greater than those in 2009.
New car registrations are now expected to total 2.026 million units in 2010, a 1.5 per cent rise on 2009, better than previous forecasts. Last month’s registrations were on a par with October 2009, if scrappage registrations are discounted.
SMMT chief executive Paul Everitt warned that the coming months would be “challenging” for the industry, but expected steady growth throughout 2011.
“The industry expects the coming months to be challenging with slow, but steady, economic growth feeding through to improved confidence and demand during 2011,” he said.