Jaguar out-performs new car market by more than two-to-one
SALES of new Jaguars out-performed the UK average by more than two-to-one in July, giving the luxury brand one of its best months in recent history.
The launch of the new two-seater F-Type allied with the July heatwave are thought to have proved an attractive combination for many buyers looking to make a new purchase.
The company sold 1,155 cars during July (2012: 892), a year-on-year increase of 29.5%. The UK average was 12.75% and only Ford was able to show a bigger improvement – the leading company in terms of market share (15.8%) saw its sales increase 38.2%.
So far this year Jaguar has sold 9,813 cars in the UK (2012: 7,999), an increase of 22.7% – on of the best performances across the whole of the UK car market.
For so long in the shadow of its more successful stablemate, Land Rover, the performance is a major boost to Castle Bromwich-based Jaguar and will support the brand’s ongoing growth.
Land Rover itself had a relatively flat month in the UK with sales rising just 0.7% to 3,459 (2012: 3,436). Sales for the year to date are 33,579 (2012: 29,511), meaning the marque is still almost 14% up on what was itself a very successful 2012.
Elsewhere, Jaguar rival BMW saw its sales increase 15% to 8,390 vehicles while in the luxury sector Aston Martin declined 33%, selling 45 cars as opposed to 67 for the same month last year.
In contrast, Bentley grew its sales more than 11% to 131 cars (2012: 118) in what was a momentous month for the Crewe firm following the announcement of its commitment to build a new SUV and the creation of 1,000 new jobs.
Across the industry as a whole, July was another successful month with the number of new vehicles registered climbing for the 17th consecutive month, growing 12.7% to 162,228 units.
The Society of Motor Manufacturers and Traders has now significantly raised its forecast for 2013 new car registrations, predicting sales will reach 2.216m this year, 8.4% ahead of 2012.
Registrations of alternatively-fuelled vehicles grew 17.0% in the month to 2,432 and hit 17,859 units for the January to July period.
Plug-in car registrations have risen 70.7% over the first seven months of 2013, to 1,885 units.
Mike Baunton, SMMT Interim Chief Executive, said: “Strong business and consumer confidence in July saw the new car market continue to rise, posting double-digit growth in the month. Now we have evidence of consistent growth, we have raised our forecast for 2013 new car registrations to 2.216m units, an increase of over 8% on last year.
“Recently, we’ve seen a range of economic indicators point to improving conditions and our raised sales forecast emphasises how positively we view the rest of 2013.”
Richard Lowe, Head of Retail & Wholesale at Barclays, said: “After passing the half year mark with strong numbers, we continue to see robust sales keeping the UK car market head and shoulders above our European counterparts. As September approaches all eyes will be on the next plate change, with exciting new models and consistently attractive offers, we’re unlikely to see the status quo changing any time soon.”
Peter Gallimore, manufacturing partner at Deloitte in the West Midlands, said: “What has been noticeable in comparing the UK market with Europe is that there has been a broad spread of growth across the manufacturers in the UK, whether they are mass producers, prestige or more budget providers. This is in sharp contrast to Europe where apart from a couple of notable exceptions, it is mainly the value brand offerings of OEMs which have achieved any noticeable growth.
“This would suggest that the UK consumer currently appears to have more confidence in the economic outlook and is taking the opportunity to benefit from the low rate finance options which remain widely available.”
