New car sales in Britain fell at their fastest rate in 17 years in October with only 128,352 vehicles sold, down 23 percent from a year ago, figures released by the Society of Motor Manufacturers and Traders (SMMT) showed Thursday.
Sales of private cars fell by nearly 29 percent in October, with business sales down 43.6 percent and fleet sales declining by16.3 percent.
Year-to-date volume dropped by 8.8 percent to 1,922,771 units, but diesel market share rose to a record high of 45.6 percent in October, the SMMT said.
"October has proved another difficult month for the UK motor industry and action is needed to help restore consumer confidence and encourage buyers back to the showrooms," said Paul Everitt, SMMT chief executive.
"Cuts in interest rates that are swiftly passed on to consumers, scrapping planned increases in VED (vehicle excise duty) and maintaining public expenditure on new vehicles are essential parts of the package required by industry."
Everitt said there is also a clear role for Europe-wide action to support continued investment in new, low-carbon vehicle technologies.
According to the SMMT, sales of the Mini, a popular car in the country, were down 40 percent in October compared with a year ago.
The sales decline in October is the worst since a 31 percent year-on-year drop in June 1991.
The SMMT had previously estimated that the market may not stabilize before the third quarter of next year.
Source: Xinhua
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