Economic Buzz: UK car sales decline 2% in August

UK new car registrations decreased for the second straight month in August, data from the Society of Motor Manufacturers & Traders showed on Thursday.

Car sales dropped 2.0 percent annually to 82,908 units in August, which is normally the quietest month of the year, as the sales are generally less than 5 percent of annual deliveries ahead of September's number plate change.

Fleet uptake dominated the month, accounting for 59.1 percent of all new vehicles, though there was a 4.6 percent reduction in volumes. Sales to private buyers rose only 0.7 percent, while the business sector grew by 41.6 percent.

New petrol registrations fell 14.2 percent, and diesel volumes plunged 16.6 percent. Total electrified vehicle registrations were up 14.9 percent, accounting for a market share of 26.5 percent.

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