Car Insurance
Car registrations fall in June
7th July 2008
While the market for new cars stalled in June, consumers were still looking to buy diesel models, a new report has stated.
Figures released by the Society of Motor Manufacturers and Traders (SMMT) showed that 209,190 cars were registered in June, down 6.1 per cent when compared to the same month in 2007.
"We are now seeing concerns about rising fuel bills and household costs dampening consumer confidence leading to slower demand for new cars, Paul Everitt, SMMT chief executive, explained.
"This slow-down is not unexpected, but signals an increasingly tough retail environment."
However, the data showed that car insurance customers were opting to buy diesel models in spite of rising fuel prices. According to the figures, registrations for diesels jumped 4.5 per cent to 89,470.
This means that 42.8 per cent of people opted for a diesel.
"Cost pressures, environmental concerns and technological advances, have ensured consumers have taken the choice of buying more efficient vehicles and record numbers of cars are now in the lowest CO2 VED bands," Mr Everitt added.
"The share of cars in the A band has increased more than tenfold in the past year."
Bookmark with: