April Registrations Up Strongly In The UK - Don't Party Yet
The UK new car market was up a strong 14.8 percent in April.
UK’s SMMT says that April registrations stood at 163,357 units, and that registrations in the first four months of 2013 grew 8.9 percent to 768,555 units. However, even the SMMT warns not to read too much into this.
Throughout the year, the UK car market had been the only bright spot in an otherwise gloomy Europe. January through March, the UK already was up 7.4 percent, while We have mentioned a similar effect in Germany.April Registrations European Volume MarketsAprilYoYJan-AprYoYGERMANY284,4443.8%958,401-8.5%UNITED KINGDOM163,35714.8%768,5557.4%FRANCE157,859-5.2%591,741-12.0%ITALY117,625-10.8%474,308-12.0%SPAIN62,32010.8%243,186-7.0%BELGIUM53,0369.8%202,1962.8%NETHERLANDS30,538-26.0%146,063-30.0%
April Sales for all countries in Europe will be released later in the month. Based on the results of Europe’s largest volume markets, which represent more than 80 percent of the EU’s total, we expect EU car sales to be flat to slightly positive for April, and down around 7 percent for the first four months of the year.
Reuters mentions several things: Less eager to put money in the bank since the interest rate is 0,5%. Banks paid 8.9 billion pounds to mis-sold PPI, average almost 3,000 pounds. London's thriving property market. That last one is influenced by uncertainty elsewhere as wealthy folks rather buy a house in London than put it in a savings account in Russia/Cyprus/Middle East http://uk.reuters.com/article/2013/04/24/uk-britain-economy-autos-idUKBRE93N0FP20130424
They should drive straight to the dentist.