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September hits record high for automotive retail

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Demand for new cars hit a record high last month as the automotive retail sector continued to grow.

Automotive retail sales rose by 1.6 per cent last year, topping 469,696 registered units as demand for the new 66-plate drove buyers into showrooms.

Registrations for the year so far rose by 2.6 per cent to 2,150,495 units. This is the first time in over 10 years that the two million mark has been surpassed.

Fleet demand was attributed to the overall growth of the sector, growing by a significant 7.3 per cent. Retail registrations dipped by 1.7 per cent to 223,844 units however.

Petrol registrations declined by 1.1 per cent in the period, but diesel rose by 2.8 per cent. Both of these we eclipsed by the growth of alternatively fueled vehicles, rising by 32.6 per cent and reaching a market share of 3.4 per cent.

“September is always one of the biggest months for Britain’s new car market," Society of Motor Manufacturers and Traders' Mike Hawes said.

"The new 66-plate, combined with a diverse range of exciting new models featuring the latest technology, has certainly helped draw buyers into showrooms and many are taking full advantage of the attractive deals and low interest financing options on offer,” .

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Published on Wednesday 05 October by Ben Stevens

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