Car sales drop while vans and trucks registrations are up
(13/03/2008)

According to the Society of Motor Manufacturers and Traders (SMMT), 69,610 new cars were sold during February, 5.4 per cent down on 2007.

"February’s car sales drop was not unexpected, but with consumer confidence still fragile, the Bank of England would have been better advised to cut the interest rate rather than hold at the current level" said Sue Robinson, Director of the RMI National Franchised Dealers Association (NFDA), commenting on car sales figures for February 2008.

Robinson observed: "What consumers need now is a further interest rate reduction. The softening of the housing market has led to consumers reigning in their spending. The market needs encouragement which only an interest rate cut could provide."

Meanwhile, truck and van registrations continue their robust trend. CV registrations are up 11.6% in February and 3.1% to 392,948 for the rolling year. Trucks are up 58.2% in February and down 0.4% to 53,420 for the rolling year. Vans are up 4.1% in February and 3.7% to 339,528 for the rolling year.

“CV registrations continue a confident start to the year, despite February being a seasonal low in the calendar,” said Paul Everitt, SMMT chief executive. “Trucks had yet another encouraging month which underlines the long-term stability in the UK economy.”

All light commercial vehicles
* Rolling year: up 3.7% to 339,528.
* YTD: up 3.3% to 37,390.
* Month: up 4.1% to 15,103.

Light vans
* Rolling year: down 20.9% to 52,103.
* YTD: up 4.6% to 6,065.
* Month: up 17.1% to 2,646.

Car type pick-ups
* Rolling year: down 37.3% to 9,272.
* YTD: down 37.7% to 842.
* Month: down 24.0% to 323.

Medium vans
* Rolling year: up 26.3% to 48,962.
* YTD: down 23.1% to 4,550.
* Month: down 18.5% to 1,734.

Heavy vans
* Rolling year: up 10.8% to 224,615.
* YTD: up 11.0% to 25,321.
* Month: up 6.4% to 10,243.

Trucks
* Rolling year: down 0.4% to 53,420.
* YTD: up 54.4% to 8,159.
* Month: up 58.2% to 3,701.

Rigids
* Rolling year: up 1.1% to 36,838.
* YTD: up 35.0% to 5,497.
* Month: up 46.6% to 2,634.

Two-axle artics
* Rolling year: down 22.2% to 3,436.
* YTD: up 69.5% to 412.
* Month: up 121.2% to 188.

Three-axle artics
* Rolling year: down 1.5% to 13,146.
* YTD: up 132.0% to 2,250.
* Month: up 92.3% to 879.

CVs up to six tonnes GVW
* Rolling year: up 4.5% to 347,682.
* YTD: up 3.8% to 38,323.
* Month: up 5.1% to 15,526.

CVs over six tonnes GVW
* Rolling year: down 6.6% to 45,266.
* YTD: up 58.1% to 7,226.
* Month: up 58.1% to 3,278.