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SMMT new car registrations - Barclays' comment

Commenting on today's SMMT figures, Ian Gilmartin, Head of Retail & Wholesale at Barclays, said:

“A heartening result for the new car sector in May. Comparisons remain difficult due to the weak figures posted in 2017 and the record breaking numbers recorded a couple of years ago are firmly in the past, but it does look like we’re edging back towards where monthly sales should be.

If the industry can continue to deliver modest growth in the next few months and close the gap on overall sales compared with last year, I think most sellers will be relatively content. Given the wider economic environment, double digit growth in private sales is pretty remarkable even when 2017’s weakness is taken into account. However, the struggling business and fleet sales remain a concern and are evidence of the challenges being faced by businesses when making significant spending decisions.”

 

About Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .