The Society of Motor Manufacturers and Traders (SMMT) has revealed some promising figures about the number of new car registrations in the UK. The figures show a dramatic increase. It has been the 20th consecutive month of growth, with new car registrations up 4% in October.<\/p>\n
Last month\u2019s total of 157,314 registrations brings the total to 1,952,238 in 2013 so far, leading the SMMT to up its forecast from 2.22 million to 2.25 million.<\/p>\n
Speaking about the continued growth, the SMMT\u2019s chief executive, Mike Hawes, said:<\/p>\n
\u201cWith October new car registrations up we have now seen 20 consecutive months of growth.<\/p>\n
\u201cThese sustained rises have been driven by robust private demand, a trend that has given us the confidence to raise our year-end forecast to 2.25 million units \u2013 10% ahead of last year.<\/p>\n
\u201cLooking ahead, we anticipate more moderate growth as the market stabilises.\u201d<\/p>\n
The supermini segment continues to take the lion\u2019s share of sales in the UK, accounting for 36% of registrations in 2013. Next up is the lower-medium segment, which accounts for 26% of all registrations in the UK.<\/p>\n
The Ford Fiesta continues to top the sales chart, with 8,574 registrations in October. This takes the Fiesta past the 100,000 mark this year, with Ford\u2019s supermini now totalling 104,621 in 2013.<\/p>\n
The continued growth in the UK is down to a combination of factors, mostly likely the consumers\u2019 need for greater fuel efficiency, coupled with competitive low-deposit finance deals and a high number of Payment Protection Insurance (PPI) compensation payouts.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Society of Motor Manufacturers and Traders (SMMT) has revealed some promising figures about the number of new car registrations in the UK. The figures show a dramatic increase. It has been the 20th consecutive month of growth, with new car registrations up 4% in October. Last month\u2019s total of 157,314 registrations brings the total …<\/p>\n