Further evidence of the impact of the credit crunch was apparent when the new car sales figures for August revealed that the number of new car registrations had dropped by 18.6 percent. The figure for August is the smallest since 1966.
Paul Everitt, chief executive of SMMT, commented on the figures, saying, “August is one of the quietest months for the new car market, but this year it was the lowest since 1966 with only 63,225 registrations.”
These figures reflect the parlous state of the car market and, following in the wake of Toyota’s announcement last week that they were cutting production at their Burnaston plant, it is an indication of tough times ahead for the motoring industry.
A break-down of the registration figures indicates that economy is on the minds of those people purchasing new cars. Sales in the mini sector doubled during August, and sales of diesel cars grew, accounting for 43.2 percent of the car market this year.