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Financial News: UK Car Registrations Decline In 2019: SMMT

UK Car Registrations Decline In 2019: SMMT

01/06/2020 - 06:47:00 (RTTNews)

(RTTNews) - UK car registrations declined in 2019 as the record year for zero emission cars failed to reboot the market, the Society of Motor Manufacturers and Traders, or SMMT, reported Monday.

New car registrations fell 2.4 percent from last year to 2.3 million units in 2019 as the turbulent market reacted to weak business and consumer confidence, general political and economic instability and confusion over clean air zones.

Despite the overall decline in 2019, the UK car market remained the second biggest in the EU, behind Germany, SMMT said.

In December, car registrations increased 3.4 percent annually.

Mike Hawes, SMMT chief executive, said, "A third year of decline for the UK new car market is a significant concern for industry and the wider economy." "Political and economic uncertainty, and confusing messages on clean air zones have taken their toll on buyer confidence, with demand for new cars at a six-year low."

Hawes called for more supportive policies and long term purchase incentives to put the UK at the forefront of technological shift.

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