By Jonathan Davies
The number of new cars sold in the UK in August grew by 9.4%, resulting in a 30th consecutive month of growth in the UK's thriving car industry.
The Society for Motor Manufacturers and Traders (SMMT) said there were 72,163 new cars registered in August, 9.4% more than in August 2013.
So far in 2014, there have been 1.5 million new cars sold in the UK, up 10.1% on last year. But this is some expectation that the car market will cool down in the coming months after 30 months of strong growth.
Mike Hawes, SMMT Chief Executive, said, “New car registrations reached two-and-a-half years of consecutive monthly growth in August, as confident private and fleet consumers continued to snap up enticing deals on a wealth of advanced new products.
“The UK’s performance in the context of Europe is particularly impressive, with growth consistently ahead of the rest of the EU for the past two years. As the UK market starts to find its natural level, we expect to see the growth level off during coming months.”
Private and fleet registrations showed similar increases, but the rise in fleet cars has been stronger in 2014 so far.
Chris Sutton, Managing Director, Black Horse motor finance providers, said:
“There is a lot of discussion about when the car market will cool given the record month on month increases that have been witnessed in the UK automotive sector but for the moment we appear to still be witnessing good news in the industry. Overall the car industry has a lot to be proud of in terms of sustained recovery, meeting consumer demand with the right mix of good finance offers that makes owning a car affordable and manufacturers working hard to deliver innovative and fuel efficient cars.
“We will now have to wait and see what next month’s figures deliver for the all important September plate change month which we would anticipate will bring good news for motor dealers and manufacturers alike. Long term the motor industry will need to start considering how it will continue to maintain this very positive momentum and attract customers to consider buying a new car.
Does you business have company cars? Have you added to your fleet recently? You can email your reactions to firstname.lastname@example.org
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