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Automotive
Principal Analyst, AutoIntelligence, S&P Global Mobility
The UK passenger car market's registrations rose for the first time in a year during April, up by 10.4% y/y.
IHS Markit perspective
The UK passenger car market has made its first gain for 12 months during April. According to data published by the Society of Motor Manufacturers and Traders (SMMT), registrations increased by 10.4% year on year (y/y) to 167,911 units. The main area of growth came from private buyers; their registrations increased by 26.3% y/y to 75,607 units, while fleet customers made a more marginal 0.9% y/y improvement to 87,486 units. However, demand from business customers was down by 12.95 y/y to 4,818 units.
However, the improvement in top-line registrations this month has done little to boost its year to date (YTD) performance, particularly considering the significant falls recorded in the big volume month of March. As a result, it is now down by 8.8% y/y to 886,400 units.
IHS Markit currently anticipates little let-up in the decline with a fall in passenger car sales of 4.3% y/y forecast to 2.43 million units.
Furthermore, we see additional falls taking place in 2019, before an upswing begins in 2020.
Read the full article
The above article is an excerpt from AutoIntelligence Daily by IHS Markit. AutoIntelligence Daily provides same-day analysis of automotive news, events and trends. Get a free trial and read the full article.