World News

UK new car sales in January down 7% year-on-year

LONDON (Reuters) – British new car registrations in January fell 7.3% year on year to 61,717, reversing a pick-up in late December, industry figures showed on Wednesday.

The fall was led by a drop of nearly 14% in private consumers’ car purchases, while business sales were more resilient, the Society of Motor Manufacturers and Traders (SMMT) said.

“The new car market is a key driver of the UK’s overall economy, so another month of decline is unsettling. Consumer confidence is not returning to the market,” SMMT CEO Mike Hawes said.

(Reporting by David Milliken; editing by Jason Neely)