UK New Car Sales Enjoy 5-Year High

UK new car sales in 2013 recorded their best year in five years according to figures released by the Society of Motor Manufacturers and Traders (SMMT) this week.

The SMMT said that 2.26 million vehicles were registered in 2013 and that was a 10.8% rise on 2012, although the figure is 6% lower than 2007's 2.4 million figure.

The 2013 total was reportedly boosted by a 23.76% rise in December, marking the 22nd successive month of increases.

“With its best year since a pre-recession 2007, the UK new car market has helped stimulate the country’s economic recovery,” said Mike Hawes, SMMT Chief Executive.

“While the European market is only now showing signs of improvement, the UK has consistently outperformed the rest of Europe with 22 consecutive months of growth.

Change in buying patterns has been driven by the demand for smaller, more fuel-efficient models, as well as the greater versatility provided by Dual Purpose and MPV segments.

Since 2008, the UK market has seen a shift away from the Upper Medium segment towards smaller cars in the Mini and Supermini segments, as well as the MPV and Dual Purpose segments.

Mike Hawes, added: “The 10.8% increase in 2013 reflects the attractive financial offers available as well as increased demand for more technologically advanced new cars.

“We expect new car registrations to remain stable in 2014 as customers return to a more regular replacement cycle.”

(Image courtesy of Toa55 / Freedigitalphotos.net)