New car sales rose to a record high for September this year, always a traditionally strong month for car sales, but this was mainly driven by companies investing in fleet buying and also people purchasing the new number 66 plate. A total of 469,696 new cars were registered last month which was a rise of 1.6% from the previous year. The most popular car turned out to be the Ford Fiesta.
However the overall figures showed that sales to private motorists fell for the sixth month in a row which is a very worrying trend for the car industry. The only positive feature has been the ongoing high number of fleet sales with the figure climbing 7.3% year on year in September.
This must be countered by the fact that 2015 saw extraordinarily high levels of car sales, but even so the fact that sales have dropped 6 months in a row seems to show that consumers are wary and concerned about the economy and the impact Brexit will have on it in the near and long term future.
Samuel Tombs, who is chief UK economist at Pantheon Macroeconomics, said that: "Car manufacturers also are beginning to raise prices in response to sterling's depreciation,"
"In addition, much of the pent-up demand from households that put off car purchases during the recession also has now been satiated.
"As such, with growth in households' real incomes set to slow sharply, as inflation revives and firms pause on hiring, and loan rates now at a floor, we expect [private] car sales to continue to fall over the next year."
There is of course still a great deal of congestion on the roads of our towns and cities which is leading to an increasing number of prangs and dents on vehicles. If you have suffered a dent on yours recently why not ring us here at Dent Magnet to get it sorted out and looking back to its best. You don`t even have to bring it to us, we can fix it on your driveway! Just give us a call on 0800 083 5270, we are looking forward to hearing from you.