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January 18, 2012

New car demand lower in 2011

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Written by: admin

Demand for new cars totalled 1,941,253 units in 2011, a decline of 4.4 per cent compared with the previous year, although this was still ahead of the 1.92 million expected. The figures, from the Society of Motor Manufacturers and Traders (SMMT), should make interesting reading for business operators with Staveley Head motor trade insurance, as they paint a picture of a challenging year for the motor industry tempered with optimism for the future.

For instance, diesel and alternatively-fuelled cars both hit record market shares in 2011, while average new car CO2 emissions fell to a new low of 138.1g/km. Analysing the figures, the SMMT predicted that the market will be “broadly stable” in 2012, with a firmer recovery expected the following year.

“Weak economic growth will make trading conditions tough in 2012, but record numbers of new and updated models, significantly improved fuel efficiency and exciting new technologies will help to encourage consumers into showrooms,” said Paul Everitt, chief executive of the SMMT.

Business and consumer confidence will be key to a successful 2012, making it even more important for the government to deliver the goods on its growth strategy and help to resolve the financial instability in the Eurozone, added Mr Everitt.

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