2016 passenger car registrations achieve UK ‘all-time high’

2.69 million units registered over the year, up 2.3% on 2015, marking the 5th consecutive year of growth

2016 passenger car registrations achieve UK ‘all-time high’

The UK new car market achieved a record year in 2016, with annual registrations climbing for the fifth year in a row to almost 2.7 million, according to figures published by SMMT.

 

Buyers were ‘attracted by a range of new car models and attractive finance deals’ according to SMMT. The UK new car market is one of the most diverse in the world, with some 44 brands offering nearly 400 different model types.

Fleets were responsible for most of the growth, with demand growing to a record 1.38 million units. The private market remains at a historically high level, with more than 1.2 million private buyers registering a new car in 2016, although demand did fall over the latter three quarters.

Diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively. However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in demand, up 22.2% across the year.

Mike Hawes, Chief Executive of SMMT said: “2017 may well be more challenging as sterling depreciation raises the price of imported goods. Looking longer term, the strength of this market will rest on our ability to maintain our current trading relations and, in particular, avoid tariff barriers.”

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