SMMT: Car sales slump further in January
by Kay Murchie
The Society of Motor Manufacturers and Traders (SMMT) have revealed that the number of new cars registered in the UK in January fell 30.9% year-on-year.
The continued fall highlights the fact that the economic downturn continues to have a major impact on new car sales.
According to the organisation, a total of 112,087 new cars were registered in the UK during January.
The news comes just a fortnight after Business Secretary, Lord Mandelson, unveiled a rescue package of £2.3 billion for the UK’s ailing car industry.
The package comes after months of pressure on the Government to take action after the SMMT recently warned that the industry was “battling” for its survival.
The SMMT is forecasting that the UK car market will fall by 19.3% this year to 1.72 million units - 410,000 fewer than in 2008.
Many car manufacturers have slashed jobs and cut hours as a result of slowing demand. Today, Ford announced 850 job losses in the UK.
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Tags: car sales, economic downturn, Ford, industry, package, slump, SMMT, Society of Motor Manufacturers and Traders
