UK new car sales rise for 1st time in a year, diesel slumps again

By Kitco News / May 04, 2018 / www.kitco.com / Article Link

LONDON, May 4 (Reuters) - British new car registrations ended a year-long run of declines to rise by an annual 10.4 percent in April although an industry body cautioned the increase reflected a poor performance in the same month last year.

Demand in April 2017 dropped 20 percent as a tax rise came into effect.

Sales last month reached 167,911 units according to the Society of Motor Manufacturers and Traders (SMMT) which also said there were more selling days last month compared with the April 2017 due to the timing of Easter.

Demand for diesel cars dropped by 25 percent in Europe’s second-largest autos market as customers continued to worry about tax rises and looming bans and restrictions in many countries.

“Consumers need certainty about future policies towards different fuel types, including diesel, and a compelling package of incentives to deliver long-term confidence in the newest technologies,” said SMMT CEO Mike Hawes. (Reporting by Costas Pitas Editing by William Schomberg)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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