New car registrations make March biggest month in a decade
Demand for the new 14-plate saw March reach 464,824 new car registrations, a rise of 17.7 per cent. Since the move to twice-yearly registration plate changes in 1999, only March 2004 has seen a higher registration figure (at 466,954). Year-to-date registrations were up 13.7 per cent to 688,122 units.
March is typically the biggest-selling month in the year, accounting for almost a fifth of full-year registrations. It also proved to be the biggest-ever month for alternatively-fuelled vehicles as volumes reached 8,713 units, growth of 63.8 per cent on 2013.
“New car registrations surged 17.7 per cent in March to 464,824 units, a surprisingly strong level of growth and a reflection of intensifying consumer confidence and the availability of great new products,” said
Mike Hawes, SMMT Chief Executive. “Given the past six years of subdued economic performance across the UK, there is still a substantial margin of pent-up demand that is contributing to a strong new and used car market.
“There has never been a better time to buy a new car thanks to attractive finance deals and advanced technologies that often make new cars cheaper to run. We expect the market to continue to perform positively for the rest of the year, albeit at a more modest rate.”