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Financial News: UK Car Registrations Increase In July: SMMT

UK Car Registrations Increase In July: SMMT

08/06/2018 - 06:08:00 (RTTNews)

(RTTNews) - UK car registrations grew moderately in July, data from the Society of Motor Manufacturers and Traders reported Monday.

Car registrations increased 1.2 percent year-on-year in July. About 163,898 new cars were registered in the month as the market stabilized following a turbulent first six months.

In terms of fuel type, the market followed the trend of previous months, with diesel registrations falling 24.4 percent as petrol demand grew 20.1 percent.

Meanwhile, alternatively fuelled vehicles advanced 21.0 percent, with market share of hybrids and plug-ins reaching a record 6.5 percent, the SMMT said.

Year to date, car sales declined 5.5 percent, broadly in line with expectations as demand began to level out. In the first seven months of the year, almost 1.5 million new cars were registered by consumers and businesses in the UK.

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