Cox Automotive believes that the latest new car registration figures strongly suggest the market has returned to a ‘push’ model – as its forecasts for this year and beyond remain on track.
As we head into the final weeks of the year, Cox Automotive’s forecasts for 2023, published every quarter, predict that new car registrations will total 1.94 million by the year’s end.
With its year-to-date baseline forecast of 1,651,611 proving 97.2% accurate to the SMMT’s recently published actual figure of 1,605,437, Cox remains confident that its full-year forecast remains a reliable guide.
Cox Automotive’s Insight Director Philip Nothard (pictured) said: “As we head into the homestretch of 2023, we stand by the accuracy of our market-leading forecasts which have proven, time and time again, to be copper-bottomed.
CT Automotive plc (LON:CTA) designs, develops and manufactures automotive interior finishes and complex kinematic assemblies for the most well-known automotive brands on the planet. These critical components are managed through an intricate global network of reactive supply chains to arrive JIT (Just in Time) at their respective OEM manufacturing plants.