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Diesel sales rise 10.7 per cent in August in the UK
as petrol reaches the $2.37 (Australian) per litre mark!
14th September, 2005
Before complaining about petrol prices, spare a thought for the British. The price of petrol reached one pound per litre in some parts of England last weekend. One British pound equates to approximately $2.37 (Australian), as at last weekend's conversion rate.
The price of fuel is beginning to change the car market in the UK. In August 2005, the UK diesel car market increased by 10.7 per cent, holding a 36.3 per cent share of the market. This marked increase may be attributed to rising fuel prices. However, overall new car volumes were down in August by 2.3 per cent. This drop is not as severe as the 6.6 per cent decrease seen in July. New car volumes stood at 83,066 units in August and SMMT (Society of Motor Manufacturers and Traders Limited) forecasts that September will see 420,000 new cars registered. Year-to-August registrations dropped almost six per cent, to 1,554,828 units. Rising fuel prices may potentially offset any boost in consumer confidence, however the diesel market strength is clear. SMMT chief executive, Christopher Macgowan commented ‘In a weaker August new car market, diesel continued to star. As fuel prices soar, buyers are really switching on to its benefits and last month marked almost five consecutive years of diesel growth. Cheaper motoring and greater model choices are just two of its selling points; better fuel consumption is also helping to lower average carbon dioxide emissions from the tailpipe.’
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