SMMT: March new car registrations rose 0.5% to 451,642

Supermini registrations were up 4.3% year on year last month to account for 35.3% of one of the year¡¯s twin market peaks, according to SMMT figures. Diesel and alternatively fuelled vehicle volumes also grow, up 7.7% and 14.7%. Q1 ¡¯08 registrations turned out to be on a par with those of Q1 2007, and almost 20,000 ahead of the SMMT¡¯s forecast for the year, which it will revise this month.
 
¡°March continues to be the biggest month for new car registrations and this year has proved to be better than anticipated,¡± said Paul Everitt, SMMT chief executive. ¡°We expect 2008 to be a challenging year, but registrations to date are in line with industry forecasts. The latest figures demonstrate the progress made by industry in delivering lower carbon cars.¡±
 
New car demand rose by 2,355 units in March, as the new plate proved more popular than expected, despite underlying concerns with the economy.
 
The March market bettered expectations by over 25,000 units and was 5.9% or 25,321 units up on the 1999-2007 average for the month of 426,321 units.
 
With quarter one registrations most 20,000 units ahead of its current forecast, SMMT is to review its full year 2008 forecast of 2.345m units during April. While economic data shows unemployment remains low and retail sales are still positive, the forecasts for headline GDP growth this year suggest a significant softening. This may affect new car demand.
 
The private sector has recorded a modest softening of demand, with a dip of 1.4% in March and 2.4% over the first quarter, though volumes are well above the levels the SMMT expected. Fleet and business demand both improved during March to give modest gains in the first quarter.
 
Ford took the top two slots in March, with the Focus regaining its position as the best selling model in the UK. March¡¯s top ten featured five superminis, the Fiesta being the highest placed. Supermini registrations rose by 4.3% in March, as demand for small, efficient, low cost cars rose. Nissan and smart were among the brands that did well in March.
 
Diesel registrations have risen by 22,821 units in quarter one, and took a 41.9% market share, up from 38.4% a year ago. The VW Golf remains the top selling diesel model. Alternatively-fuelled car demand was up 14.7% in March and up 15.1% in the first quarter with Toyota Prius the best seller.
 
The SMMT has also reported that new UK CV registrations were up 4.8% in March and up 4.3% to 395,220 for the rolling year. Truck registrations over 3.5t were up 32.5% in March and up 6.2% to 55,259 for the rolling year, while van registrations rose 2.0% for the month and 3.9% to 339,961 for the rolling year.
From: auto industry.uk/news

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