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Financial News: UK July Car Sales Hit Monthly Low Since

UK July Car Sales Hit Monthly Low Since 2012: SMMT

08/05/2019 - 04:43:00 (RTTNews)

(RTTNews) - UK car sales declined to the lowest July level since 2012, data from the Society of Motor Manufacturers & Traders, or SMMT, showed Monday.

Car registrations decreased 4.1 percent year-on-year to 157,198 units in July. This was the fifth consecutive decline as political and economic uncertainty and confusion over future government policy on different fuel types continued to weigh on consumer and business sentiment, the SMMT reported.

Declines were seen across all sectors, with private demand falling 2.0 percent, while deliveries for fleet and business customers were down 4.7 percent and 22.5 percent, respectively.

Data showed that battery electric car registrations almost triple to take record monthly market share as new EV forecast suggests full year share could double in 2020.

The SMMT forecasts ongoing investment into new, ever more advanced powertrain technology will result in battery electric vehicles doubling their market share next year.

During January to July period, new car sales decreased 3.5 percent from the same period last year.

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