Our take on the latest Car registrations (Wed 6 Mar 2019)
New car registrations up 2.2% as of February 2019
Large new car registrations up 3.9% as of February 2019
Used car registrations down 7.6% as of February 2019
The key numbers...
- It has been a challenging summer for the new car market, but things are starting to look up. Moderate economic growth and population growth, along with the prospect of low interest rates for at least the next 12 months have set the scene for a boost in sales.
- However, recent volatility in petrol prices, mixed consumer confidence results and improvements in business confidence having stalled, we are only cautiously optimistic that February’s new car registration results herald a sustained recovery.
- Used small car registrations are showing signs of picking up quicker than used large car registrations. This is likely to reflect a shift in consumer preferences towards smaller more fuel-efficient cars in the face of variable petrol prices.
Car registrations
Annual % change
...and our reaction
- In February 2019 compared with a year earlier, new car registrations rose 2.2% and used car registrations fell 7.6%.
- New small car registrations fell 1.0% in February 2009 compared with a year earlier, while new large car registrations rose 3.9%.
- Used small car registrations grew 6.0% in February 2019 compared with a year earlier, which was more than offset by a 16.2% fall in used large car registrations.
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