The Society of Motor Manufacturers and Traders has published the eagerly anticipated figures on the March new car market which shows registrations in the 18-plate change month fell -15.7%, with a -37.2% fall in diesel.
However, there’s some interesting dynamics at play. It’s worth noting this was still the fourth largest March on record with over 474,000 cars registered.
Also, the premium market fell less severely at -12% showing the overall affordability of cars in this sector given their stronger residual values.
Whether you sell premium, volume, or a mix of both, with the market trending downwards the real strength of a retailer’s performance will be judged by their used car and aftersales results.
Both of which can still grow significantly, in what is still a very large car parc, by ensuring that the business has a customer-centric approach.