By Daniel Hunter
New car sales grew for a 33rd consecutive month in November, according to the Society for Motor Manufacturers & Traders (SMMT).
There were 172,327 new cars registered in the UK, an 8% rise on November 2013.
It means that there have now been 2,310,237 new cars sold in the UK so far in 2014. That figure is already 9% of the 2013 total with December sales still to come.
Mike Hawes, SMMT Chief Executive, said: “Six months after the record was broken for consecutive monthly growth in new car registrations, the market continues to march on. Today’s figures are an indication of the continuing economic confidence that is driving the new car market, with business, fleet and private registrations all showing strong rises in the month. We expect a more stable market in 2015.
The SMMT also welcomed the Chancellor George Osborne's confirmation in the Autumn Statement of £75 million to support ultra-low emission vehicles (ULEVs) in the UK as part of this week’s roads investment strategy.
Mr Hawes said: “Demand for ULEVs is growing strongly, and we welcome the Chancellor’s commitment to support the chargepoint network for electric vehicles, as well as ULEV R&D in the UK.”
Chris Sutton, Managing Director at Black Horse, the motor finance arm of Lloyds Banking Group, said: “Car manufacturers and dealers alike will be pleased to see sales have continued to perform well with yet another month of good figures as the final quarter of 2014 draws to a close.
"Clearly cheap and affordable finance continues to play a positive role in the purchase of new cars, in particular the use of PCPs (Personal Contract Purchases) which is attractive to car buyers given the current low interest rate environment that UK consumers continue to benefit from.
"Strong business confidence is also likely to have a positive impact on car sales too as more businesses feel confident to increase purchases of company cars and expand their overall fleet capacity. Finally, there has been much speculation on when the good news will come to an end but we are confident of a good start to 2015 for both manufacturers and dealers."
Join us on