October car sales push yearly figure past two million

7th November 2014 | 0 Comments
 

SMMT figures reveal that new car registrations jumped 14.2 per cent in October to 179,714 units, marking the 32nd consecutive month of growth.

2,137,910 cars have been registered in the year-to-date – the first time the market has passed two million in October since 2007.

Rising demand for alternatively-fuelled vehicles continued, with the market up more than 50 per cent in both month and year-to-date.

Mike Hawes, SMMT chief executive, said, “The October new car market outperformed expectations, with registrations showing the strongest growth in a month since March’s 18 per cent rise. With economic confidence still rising, customers continue to benefit from attractive financial packages on exciting new models.

“We still expect the overall market to level off as we head towards 2015, but the exception to that rule will be alternatively-fuelled vehicles, demand for which will continue to accelerate.”

Commenting on the figures, Sue Robinson, director of National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, said:

“It is positive to see that new car registrations are continuing on an upward trend as 2014 draws to a close, and it is clear to see consumer confidence is still on a high following last month’s plate change.

“October performance exceeded expectations and demand for new cars set to stabilise in coming months. We are encouraged that the growth and stability of the market shown following the latest plate change will continue through the remainder of the year.”

 

Tags: , , , ,

Category: Market Info, UK News