Strong September for new car registrations

More than 400,000 cars were registered in the UK in September, according to the SMMT, making it the best month for new cars since March 2008.

Private sales were responsible for most of the growth with a 17.9% increase compared with September 2012, although both fleet and business sectors were up compared with a year ago.

According to the SMMT the growth reflects buyers returning to market after period of hold-off, with latest vehicles and strong finance packages fuelling demand. The organisation also points to new models offering enhanced fuel efficiency, alongside new technology and designs.~

"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."
            

Source: SMMT