New Car Purchases by Private Buyers Decline for Ninth Consecutive Month

The latest figures from the Society of Motor Manufacturers and Traders (SMMT) reveal a concerning trend in the new car market – a decline in purchases by private buyers for nine consecutive months. While the overall market has seen growth, largely driven by fleet purchases, the decrease in private consumer sales is a cause for alarm.

In June, only 67,625 new cars were registered by private consumers, a significant drop of 15.3% compared to the same month last year. This trend has persisted throughout the year, with the market share of pure battery electric cars increasing slightly but not enough to offset the overall decline in private purchases.

Mike Hawes, the chief executive of SMMT, highlighted the challenges facing the market and emphasized the need for government intervention to stimulate consumer demand. With rising new car prices making it difficult for many buyers to afford a new vehicle, Ian Plummer of Auto Trader called for measures to improve electric car affordability and ensure long-term stability in the market.

Steve Gooding of the RAC Foundation echoed these concerns, noting that the outcome of the upcoming elections and its impact on household budgets could further dampen consumer confidence. Without subsidies for electric car buyers and manufacturers reluctant to lower prices, the road ahead for the new car market seems uncertain.

As a consumer, it’s important to stay informed about market trends and be aware of the challenges facing the automotive industry. Whether you’re in the market for a new car or considering switching to an electric vehicle, understanding the current landscape can help you make informed decisions. Let’s hope that the next government takes decisive action to support the new car market and drive the transition to zero-emission vehicles.