Brake on car sales

Jan 6 2006

By Evening Gazette

Car sales in the UK fell by 5pc last year to less than 2.5m, according to industry figures released today. The figures, compiled by the Society of Motor Manufacturers and Traders, suggest that the total number of cars sold in 2005 was the lowest since 2000. The fall was largely due to a 10pc drop in the consumer market, as individuals and families stayed away from the showrooms, while the business market held up. SMMT chief executive Christopher Macgowan blamed consumers' reluctance to splash out on a new car on increased interest rates and growing economic uncertainty.