September surge in car registrations
The new 63 registration plate boosted the car market for September, seeing it rise 12.1 per cent to hit 403,136 registrations, according to figures released by the SMMT. This made September 2013 the best performing month since March 2008 with the highest volume in 66 months. Private registrations have risen 16.7 per cent over year-to-date, helping the overall market rise 10.8 per cent. More than 1 in 7 new cars registered in the month is UK-built.
“The September new car registrations figure was the highest monthly total since March 2008. With over 400,000 new cars registered for the first time in more than five years, the UK market is reflecting growing economic confidence,” said Mike Hawes, SMMT Chief Executive. “Robust private demand has played a major role in this growth with customers attracted by exciting, increasingly fuel-efficient new models that offer savings in the cost of ownership. This is the 19th consecutive month of steady growth and, with fleet and business demand still to reach pre-recession levels, we believe the performance to be sustainable. The latest 63-plate should deliver positive results into next year.”
Commenting on the figures, Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, said: “It is positive to see that the new car market has continued to remain strong during September and the successful plate change reflects growing economic confidence”.
Robinson continued: “It is great news that the 63-plate change means this month is the best performing month since March 2008. The market remains significantly high with increased footfall and interest from consumers which show that the sector is stable and growing.
“Strong finance packages which allow consumers to budget for monthly payments and dealership incentives have fuelled demand and customers are continuing to opt for smaller, fuel efficient models. We are encouraged that the growth and stability of the market shown by the latest plate change will continue into 2014”.