New car sales fall but industry still showing signs of recovery - for now

November 5, 2023


Sales of new cars in Britain fell in October for the fourth month running but overall figures for the year still look set to outstrip those of 2012. There was also good news for the environment in the data released by the Society of Motor Manufacturers and Traders, as sales of cleaner diesel cars surged ahead of those of petrol vehicles and more people than ever before invested in alternative fuel cars.

The SMMT figures revealed that 131,495 vehicles were registered during October 2013, a drop of 22.2% on October 2012.  Diesel sales now account for 54.7% of the total new car market; last year the figure was 40%. While analysts predict that numbers will be down year-on-year for November and December, projections indicate that annual sales should be up 1.5% on 2012 by the end of the year.

The decline has been partly attributed to the end of a highly publicised government scrappage incentive scheme which ran  up March 2013 and helped to shore up car sales during the darkest months of recession in 2012. Some analysts, however, believe that the diminished figures point to the imminent possibility of a double dip recession amid increased financial uncertainty in which many people prefer to save their money for a rainy day rather than making major purchases they later come to regret.

  • New car sales fall (independent.co.uk)
  • New car sales drop 22.2% in October (mirror.co.uk)
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is a Team Leader in the Media Architecture department at Money Lion and is responsible for delivering innovative link-building strategies that combine external content strategy with elements of blogging and social media. Prior to his time at Money Lion, Jodi worked in online media in an editorial role while moonlighting as a blogger.

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