New car sales in the UK have fallen for the first time in 43 months, though Jaguar Land Rover has bucked the trend - both at home and abroad.
Figures released by the Society of Motor Manufacturers and Traders (SMMT) show UK new car registrations dropped for the first time in more than three and a half years as market growth levelled off in October.
A total of 177,664 new cars were registered in the month, representing a decrease of 1.1 per cent on last year’s figure, following a record 43 months of consecutive growth.
The SMMT added that year-to-date figures demonstrated the new car market continued to be buoyant.
In all 2,274,550 cars have been registered so far this year in the UK, 6.4 per cent more than at this time in 2014, and the best year-to-date performance on record.
Mike Hawes, SMMT chief executive, said: “The UK car market has gone through a period of unprecedented growth and, so far, 2015 has been a bumper year with the strongest performance since the recession.
“As expected, demand has now begun to level off but the sector is in a strong position, as low interest rates, consumer confidence and exciting new products combine to attract new car buyers. The current full-year growth forecast remains on track.”
Although Volkswagen saw its UK sales dip by almost 10 per cent in the wake of the ongoing diesel emissions scandal, Jaguar Land Rover has continued to enjoy growth.
October saw Jaguar’s UK October sales rise by more than 70 per cent year-on-year, while Land Rover saw a 40.5 per cent year-on-year increase.
Much of the Jaguar surge can be attributed to a healthy order book for its XE compact executive saloon which was launched in the spring.
October sales in the US were even rosier for Jaguar Land Rover.
There the carmaker saw an increase of 76 percent year-on-year with 8,187 units sold - making it the best US Jaguar Land Rover October sales month ever.
Land Rover was up 98 per cent to 7,199 units, driven largely by the Range Rover and Range Rover Sport.
Jaguar sales by contrast dropped by two per cent year-on-year to 998 units but October saw a 17 per cent increase in sales of its F-Type sportscar with sales of 400.
Year to date in 2015, Jaguar Land Rover US sales hit 67,806 units, an increase of 23 per cent over 2014.
Jaguar has yet to launch the XE in the US and it is set to be followed by the F-Pace crossover.
Joe Eberhardt, president and CEO of Jaguar Land Rover North America, said: “The Jaguar Land Rover business continues to set the pace for the luxury automotive industry with record-breaking sales growth led by the Range Rover nameplates and the Jaguar F-Type, which had its best October sales month ever.”