Market Projections for 2011 SMMT Forecasts:New car registration likely to be down by 4.8% to 1.928M. New LCV registrations likely to be up by 5.3% to 232K. New registered diesel cars will represent 46% of the 2011 market – down from 53% in 2007 as buyers trade down into smaller models. New registered petrol cars will represent + or – 54% of the 2011 market. 65% of all new cars will be registered to a business user. Only 35% of all new cars will be for a private user.
Business user new car market will be stronger than the private retail market. Most new car private/retail sales will be on manufacturer schemes. Fleet departments in dealerships should see increased activity. New car finance for MIF will need to be corporate orientated – Contract Hire, Leasing, Lease Purchase etc. In the private user market – used cars offer the greatest growth for MIF.