Crisis is being cited almost in every sector and market. Yes, the latest report of citing a major fall in sales has come from the private car sale sector.
In its recent report, the Society of Motor Manufacturers and Traders have clearly highlighted about the fall of 4.2% that they have seen in the number of car registrations in the month of November this year. The above fall has been followed by the strong sale of cars to fleet operators including rental car companies, according to reports.
It was noted in the report that the fleet sales have suddenly went up by approximately 7.5% this year whereas on the other hand, private car sales were down by almost 16% including the sales of business cars as well.
Averagely, the car market cited a fall of 20% as compared to the pre-recession levels. In context to the same, statements also came from SMMT which claimed that the latest forecasts for the UK economy and Eurozone market were unsettling.
Regarding the situation, Mr. Sue Robinson, of the Royal Motor Industry trade body, said: "The decline in the retail market highlights the current lack of consumer confidence. While the economy remains fragile and the European debt crisis continues to affect stability, consumer confidence remains very low. Many consumers are finding their finances very constrained due to inflationary pressure on house hold bills”.
Mr. David Raistrick, UK Manufacturing Industry Leader for Deloitte, has also showed big concerns over the sudden fall in the registration number of the private cars. In his statement, he talked about the set targets of achieving 1.84 million total UK new car registrations in the year 2012 but citing present trend he claimed that the figures could fall as low as 1.80 million.
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