When commenting on January’s SMMT figures, Julian Rance, Director at Paragon Car Finance, suggested that the UK new car market will decline by 5% in 2017.
Julian Rance welcomed the rebound in private sales apparent in the January registration data: “The 12 year high in January new car registrations indicates a buoyant economy and should be welcomed. For some time now the commercial and fleet vehicle market has been supporting new registrations and it is good to see some balance returning between registrations of commercial, and private vehicles.”
However on a more cautionary note he added: “It is worth remembering however that January always sees a spike in registrations as a vehicle purchased in January will hold value better than one purchased in the previous year and despite January’s figures, the market should expect a contraction of around 5% over the course of 2017.”
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