By Daniel Hunter
The latest data from the Society of Motor Manufacturers and Traders (SMMT) shows that UK new car registrations rose 14.8% in April to 163,357 units.
Registrations in the first four months of 2013 grew 8.9% to 768,555 units, whilst April secured the strongest growth in 14 months as buying cycles and market volatility combined to boost uptake.
“The UK new car market continues to perform surprisingly strongly, with volumes again increasing in April. While the headline increase was up almost 15% there were more sales days this year than last,” said SMMT Interim Chief Executive, Mike Baunton.
“The UK continues to perform well ahead of the troubled Eurozone as consumer confidence, regular purchase cycles, attractive finance deals and wider market factors continue to make new car buying favourable for motorists.”
Richard Lowe, Head of Retail & Wholesale at Barclays, said the data is in stark contrast to that being seen in Europe.
“UK consumers continue to drive new car sales up by nearly 15%, which is in stark contrast to the picture we’re seeing across Europe. Increasing maintenance costs and the relatively high fuel bills associated with older models means more consumers are looking for newer, more fuel efficient vehicles," Lowe said.
“With an increasing number of cars on the road now over 10 years old, we expect to see this preference for newer cars continue and sales will be encouraged by the variety of deals on offer.”
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