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UK Car Registrations Up For 26th Month In A Row
posted on May 08 2014 by Kiri Nowak
The strength of the car industry continues to grow as new figures show car registrations reached 176,820 in April. This is an 8% increase on the same period last year.
These figures come from the Society of Motor Manufactures and Traders (SMMT). SMMT is the trade association for the motor industry in the UK. They have released figures that show the total number of car registrations this year to date are up 12.5% on last year.
These figures have resulted in the SMMT reviewing their forecast for the year. The original forecast for 2014 was 2.3 million and now that figure has gone up to an estimated 2.4 million. If this is achieved it will be a 6% growth on last year.
What is even more interesting and encouraging is that this is the longest ever run of growth that has been achieved since the late 1980’s. The UK economy is also on the mend, it grew by 0.8% in the first quarter of the year. People have perhaps put off getting a new car while the economy was suffering but now are in a better position to get a new vehicle.
Leasing also provides a more affordable and cost effective option for people who don’t want to splash out on a new car. It enables people to get the same car but without a huge initial payment and with lower monthly instalments. Lease cars are of course included in these figures because when you lease a car it is brand new.
The new 14-plate vehicles are likely to have played a part in the recent rise in car registrations. There has been a huge demand for the new 14-plate registration which people now get when they buy or lease a new car. New car registrations hit a ten year high in March when the new 14-plate registration number was released. “After the bumper plate-change month of March, the UK car market returned to more modest but still positive growth in April, with new car registrations up 8.2% to 176,820 units,” said Mike Hawes, SMMT Chief Executive.
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Best selling cars in April 2014
1. Ford Fiesta - 10,250 registrations
2. Ford Focus - 6,772 registrations
3. VW Golf - 5,302 registrations
4. Vauxhall Corsa - 3,949 registrations
5. Audi A3 - 3,754 registrations
6. Nissan Qashqai - 3,753 registrations
7. Vauxhall Astra - 3,562 registrations
8. VW Polo - 3,449 registrations
9. Nissan Juke - 3053 registrations
10. Fiat 500 - 2928 registrations