2014 car registrations surge past 2 million

2014 car registrations surge past 2 million

New car registrations jumped 14.2% in October to 179,714 units, marking the 32nd consecutive month of growth according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).

In total, 2.14 million cars have been registered in 2014 – first time the market has passed two million during October since 2007. The rising demand for alternatively-fuelled vehicles continues, with this market segment up more than 50% year-to-date.

Mike Hawes, SMMT Chief Executive, said: “The October new car market outperformed expectations, with registrations showing the strongest growth in a month since March’s 18% rise.

“We still expect the overall market to level off as we head towards 2015, but the exception to that rule will be alternatively-fuelled vehicles, demand for which will continue to accelerate.”

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