By Gokhan Kurtaran

LONDON 

New car registrations declined in March by 15.7 percent compared with the same month last year according to the Society of Motor Manufacturers and Traders (SMMT).

New car registrations fell for the 12th consecutive month and diesel registrations declined by 37.2 percent in March compared with the same month of last year.

“Consumer and business confidence, however, has taken a knock in recent months and a thriving new car market is essential to the overall health of our economy,” Mike Hawes, SMMT chief executive, said commenting on the latest figures.

“This means creating the right economic conditions for all types of consumers to have the confidence to buy new vehicles. All technologies, regardless of fuel type, have a role to play in helping improve air quality whilst meeting our climate change targets, so government must do more to encourage consumers to buy new vehicles rather than hang onto their older, more polluting vehicles,” he added.

The new car market is a vital part of the U.K. economy and is often seen as a barometer of consumer and business confidence.