New car market registers its 42nd consecutive month of growth in August

The new car market recorded its 42nd consecutive month of growth in August – albeit in one of the year’s quietest months – according to figures published today by the Society of Motor Manufacturers and Traders (SMMT).

New car registrations increased 9.6% to 79,060 for the month, with fleet and business registrations accounting for 52.7% of the market, equating to 41,698 units.

Comapred to August, 2014, fleet and business registrations were around 12% higher during the month and 11% more year-to-date. There have now been 882,548 units registered to business and fleet so far this year, equating to 54% of the overall market.

The market for alternatively-fuelled vehicles, meanwhile, grew 52.3% year on year, maintaining a steady 2.4% share of the overall market.

Mike Hawes, SMMT chief executive, said, "August’s strong performance has again been driven by attractive finance deals and a diverse range of technologically advanced models. 

“Britain’s budget-conscious buyers are taking advantage of low regular monthly payments that provide certainty and affordability.‎ With September's new 65-plate now in full swing, we expect UK showrooms to be as busy as ever.”