Challenging Times for New Car Sales: 13% Dip Reported with Price Implications
Wednesday, 5 June 2024, 21:00
New Car Sales Slump: The Current Scenario
Figures from the SMMT highlighted a significant 12.9% decline in new car sales to private buyers in May. This downward trend signals a challenging period for the automotive industry, reflecting shifting consumer demands.
Price Affected Buyer Choices
Just one in 25 new cars available for purchase are priced under £20,000, indicating a notable affordability challenge for potential buyers. This pricing dynamic has contributed to the diminishing sales figures, emphasizing the impact of consumer spending behaviors on the market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.