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New car sales suffer record decline
New car sales in the UK have fallen at the fastest rate for 17 years, according to a report by The Society of Motor Manufacturers (SMMT).
New car registrations fell by 23% to 128,352 units in October, the largest drop the industry has experienced since 1991.
This is the fifth consecutive month that new car sales have declined, and the report also revealed that throughout 2008 new car sales have fallen more than 8% from 2007.
"Action is needed to help restore customer confidence and encourage buyers back to the showroom," said SMMT chief executive Paul Everitt.
Sales of new business cars have declined by 43% this year, due to rising fuel prices and many small businesses cutting costs.
Post Date: November 7th, 2008
New car registrations fell by 23% to 128,352 units in October, the largest drop the industry has experienced since 1991.
This is the fifth consecutive month that new car sales have declined, and the report also revealed that throughout 2008 new car sales have fallen more than 8% from 2007.
"Action is needed to help restore customer confidence and encourage buyers back to the showroom," said SMMT chief executive Paul Everitt.
Sales of new business cars have declined by 43% this year, due to rising fuel prices and many small businesses cutting costs.
Post Date: November 7th, 2008
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