New Car Registration Figures Show Positive Start for 2016

New Car Registration Figures Show Positive Start for 2016
Figures released recently have shown that UK car registrations have seen a slight increase in July, up 0.1 per cent for the month. The information, which was released by SMMT, showed that 1,599,159 new cars have been registered in the UK this year, with lower private registrations contrasted by higher fleet purchases.

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Mike Hawes, SMMT chief executive, said: “After a healthy start to 2016 and record registrations in 2015, the market is showing signs of cooling.

“The automotive market is a vital part of the British economy and it’s important government delivers the economic conditions which instil business and consumer confidence. With low interest rates, attractive finance options and exciting new models coming to the showrooms, the market still has lots to offer customers.”

The figures revealed the Ford Fiesta to be the best-selling car, coming in above the Vauxhall Corsa and Vauxhall Astra.

Demand for alternatively-fuelled cars has also remained high, with 24.7 per cent more registrations for July shown when compared with the same month in 2015. However, they still retain a relatively small area of the market.

A record number of registrations was experienced in 2015 with 2,633,503 cars sold, and it looks as if 2016 is set to top it.

The automotive industry accounts for more than £71.6 billion turnover each year, with 169,000 people employed directly in the trade. Another 814,000 are employed in the wider area surrounding the industry.