Consumer confidence still lacking in October

For more, please see the attachedDownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) ·         New car registrations fall 23.0% in October to 128,352 units.·         Year-to-date volume is down 8.8% to 1,922,771 units. ·         Diesel market share rose to a record high of 45.6% in October. ·         2008 forecast has been revised to 2.15 million vehicles. “October has proved another difficult month for the UK motor industry and action is needed to help restore consumer confidence and encourage buyers back to the showrooms,” said Paul Everitt, SMMT chief executive.  “Cuts in interest rates that are swiftly passed on to consumers, scrapping planned increases in VED and maintaining public expenditure on new vehicles are essential parts of the package required by industry. There is also a clear role for European action to support continued investment in new, lower carbon vehicle technologies.” read more