New car sales stall to worst for 10 years
New car sales in Britain plunged more than a fifth in the past year in what was the worst 12 months for the car industry in more than a decade.
Car showrooms have been empty of people during the credit crunch as they delay making what for most households represents the biggest purchase after their house.
The Society of Motor Traders and Manufacturers said new car registrations were down by 21.2% in December compared with a year earlier.
Full-year sales were down 11.3% to 2.1 million cars against 2.4 million in 2007. The figures emerged as the SMMT was holding desperate talks to get funding from the British taxpayer.
Jaguar and Land Rover, which were bought by Indian conglomerate Tata last year, are in talks over a request for a £1 billion support package while the remaining industry has been offered its first formal meeting with the Government since November to discuss the issue.
Lord Mandelson, Business Secretary, is seeking to involve the Treasury directly with the fresh round of talks.
