UK new car market up again 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 by the Society of Motor Manufacturers and Traders (SMMT).
New car registrations increased 9.6% to 79,060 for the month, taking year-to-date growth to 6.7%.
Gains were made across all sectors and all fuel types, with registrations in the private, business and fleet markets up 7.2%, 11.8% and 12.1% respectively. 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.”
Jaguar saw 836 new cars registered in August, a marked increase on the 276 registered in August 2014. Some 13,108 new cars have been registered by the firm in the year to date.
New Land Rover registrations totalled 1,086 in August compared to 827 in August 2014. Year to date some 40,072 new Land Rovers have been registered.
Aston Martin saw 14 new cars registered in the month. The year to date total is now 579.
Auto manufacturing giant BMW – which has an engine plant in Coleshill – saw 4,848 cars registered in August. The year to date total is now 94,596.
Peter Gallimore, a partner at accountancy and advisory firm Deloitte in Birmingham, said: “In a traditionally quiet month, the growth achieved in August is ahead of expectations. Indeed, August registrations have now exceeded the levels achieved in 2007 (77,000). This level has not been reached in the intervening years, even with the assistance of the government scrappage scheme in 2009.
“Turning to the September numbers, which will include the new 65 number plate registrations, 2014 showed a phenomenal 425,000 vehicles registered. With such a strong August, manufacturers and retailers will be anticipating good sales figures in September.
“Expectations are high that the number of deals on offer will positively influence the retail market. However, with signs of growth slowing in both the service and manufacturing sectors, last year’s September numbers will be a hard target to beat.
“With a flat European and global new car market, manufacturers will be keen to ensure that the September new plate opportunity is maximised. At the current rate of growth being achieved, full year sales look on track to reach between 2.55m and 2.6m. That’s even if there is a quieter last quarter to the year.”
