The number of brand new car registrations here in the UK has consecutively continued to rise. This year has certainly proven to be no different as this is the thirty second consecutive month in which registrations have risen. The months of both March and September each year see the new car registration plates come into play and this year the increased growth of the car industry has certainly been helped by the new plates. From last month the rate of new registrations officially exceeded the two million area with the actual figure of registrations coming in at 2,137,910. The majority of sales on vehicles have been purchased via finance deals with more than fifty percent of vehicle sales being on alternative fuel models such as hybrid and electric models such as the BMW i3.
2014 has seen the biggest rise in growth since 2005 by just passing the 2.1 million figure. On a basis from January to October,last year was just hitting over the 1.9 million mark with the 2.1 figure coming into play as the most recent calculation. The statistics of car sales and new registrations were calculated by The Society of Motor Manufacturers and Traders. It was back in 2007 that the sales figures reached over two million meaning that for the first time in seven years, the car industries growth has shown all time high figures. Mike Hawes who is the chief executive for the SMMT has commented on the issue saying “The new October new car market outperformed expectations with registrations showing the strongest growth in a month since March's eighteen percent rise”.
Chris Sutton who is the managing director of Black Horse also had this to say, “As we enter the final quarter of 2014,consumers will be anticipating new models in the new year and may well be considering upgrading or part exchanging their current car so this continued growth trajectory may continue but more than likely at a slower pace than we have already seen”.
There are a vast range of manufacturers who have helped to contribute to the growth in new car registrations this year. Ford,Vauxhall and Volkswagen are the top brands in the list with Ford dominating with both the Fiesta and the Focus. Vauxhall with their popular Corsa and Volkswagen have also brought in the custom with their well loved Golf.