New car registrations in the U.K. fell 30.5 percent in March compared to the same month last year to 313,912 units, as the recession crippled demand. The overall drop in car sales from the beginning of the year (January to March) is 29.7 percent or 200,000 less vehicles than the same period in 2008. In a statement issued today, the Society of Motor Manufacturers & Traders (SMMT) said that the government needs to take more actions to help the sector.
"March new car registrations are a barometer of confidence in the economy, from businesses and consumers alike," said Paul Everitt, SMMT chief executive. "The fall in the market shows that government needs to do more to boost confidence. A scrappage scheme will provide the incentive needed and the evidence is clear that schemes already implemented across Europe do work to increase demand. The UK is the only major European market not to implement a scheme."
Ford topped the sales chart in March with 52,289 units followed by GM's Vauxhall (40,000 units), VW (24,440 units), Peugeot (17,412) and Audi (16,250 units). The Ford Fiesta was the UK's best selling model for a fifth successive month in March with 20,654 units. It was followed by the Vauxhall Corsa (14,993 units), Ford Focus (13,942 units), Vauxhall Astra (8,713 units) and VW Golf (8,024).
MARQUE | Sales March 2009 | Sales March 2008 | Change % |
Total | 313,912 | 451,642 | (30.50) |
Ford | 52,289 | 67,676 | (22.74) |
Vauxhall | 40,000 | 57,008 | (29.83) |
Volkswagen | 24,440 | 32,285 | (24.30) |
Peugeot | 17,412 | 25,545 | (31.84) |
Audi | 16,250 | 18,094 | (10.19) |
BMW | 15,654 | 22,755 | (31.21) |
Toyota | 15,624 | 22,760 | (31.35) |
Honda | 13,005 | 21,862 | (40.51) |
Mercedes-Benz | 12,231 | 16,179 | (24.40) |
Citroen | 10,755 | 16,805 | (36.00) |
Renault | 10,227 | 21,769 | (53.02) |
Nissan | 8,788 | 16,673 | (47.29) |
Fiat | 8,001 | 11,908 | (32.81) |
Mazda | 7,734 | 10,355 | (25.31) |
Kia | 6,346 | 6,496 | (2.31) |
Hyundai | 6,218 | 6,503 | (4.38) |
Land Rover | 6,027 | 9,576 | (37.06) |
MINI | 5,976 | 8,858 | (32.54) |
It's not so often that we hear any good news from Detroit's Big 3 these days so Ford Motor Company's announcement that it has trimmed its automotive debt by 38 percent, or $9.9 billion, was a welcome surprise. The American automaker said that the debt reduction that was achieved through "completion of debt restructuring initiatives" will lower its annual cash interest expense by more than $500 million based on current interest rates.
