2014 saw 10 year high for new car registrations

2014 saw 10 year high for new car registrations

SMMT report the 2.48 million new UK registered in in 2014 was the most in a calendar year since 2004.

The total was the fourth largest of all time, beaten only by 2002, 2003 and 2004, as the UK market grew 9.3% over 2013 against an EU average of 5.7%. Every month in 2014 saw an increase as December’s 8.7% rise marked the 34th consecutive month of growth. Plug-in car sales increased fourfold to 15,000.

Mike Hawes, SMMT Chief Executive, said, “UK new car registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with confidence in the economy saw consumer demand for the latest models grow consistently and strongly.

“The year was particularly strong for alternatively-fuelled vehicles as increased choice, coupled with a growing desire for reduced costs and greater efficiency, resulted in a quadrupling of plug-in car registrations over 2013. With a variety of new plug-in models expected in 2015, this area of the market will continue to grow significantly.”

SMMT and others forecast that demand will ‘level off’ during 2015.

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