July's figures were released earlier this week and Its all up again !!
Well apart from HGV's which after a good run of increases (still up 22% YTD) dropped back 2.2%. New car registrations are up 9.3% and LCV's are up 10.2%.
Car registrations had their fifth monthly rise in a row with July's being the largest increase and the SMMT has revised its full year forecast up to 1.97 million units. The motor trade press has been active with some of the major players airing concerns over self-registrations and how that is effecting the markets and this was joined by a number of other players 'jumping on the band wagon' to add their comments.
Now truth be told I don't personally know how many self-registrations there are but what I do know is this issue has been around for a very long time. I can re-call the same comments back in the late 80's when I was a Sales Manager and then again in the 90's, it was reported that there were so many self-registrations that it would effect new and nearly new car sales, the market would be twisted and we were all going to hell in a hand cart. This rattled on for years with no great effect and I guess it could well be the same this time round.
LCV's have bounced back after a couple of poor months giving them a rolling year which is now on a par with 2011. HGV's have mainly dipped in the rigid market however artic's have achieved sales not seen since 2008, in my view this is a prime example of pent up demand being released.
Andy Norman CAE FIMI
South Midlands, South Wales and The South West of England
John Gibson Associates