February marks two years of growth in UK car sales
February new car registrations rose 3.0 per cent to 68,736 units; this means that the UK new car market has achieved 24 consecutive months of growth, increasing 17.4 per cent over the period.
The SMMT suggests that rising GDP and growing car registrations signal increasing consumer confidence and automotive retailers are looking forward to March results as expectations rise for a strong 14-plate performance.
“The 3 per cent rise in February new car registrations marks two full years of continuous month-on-month growth; a real endorsement of consumer confidence and the attractiveness of the new car market,” said Mike Hawes, SMMT chief executive. “While February is typically a quieter month ahead of the March registration plate change, we expect the arrival of the new 14-plate and increasing economic confidence to maintain a steady rate of growth.”