UK new car market starts 2016 on a high with best January

Best January since 2005 for new car market as registrations increase 2.9% to 169,678 units.Private registrations fuel growth, up 8.2% to 73,061 vehicles – the highest level since 2004.6,075 alternatively-fuelled vehicles registered, up 32.1% to take a record 3.6% market share.4 February, 2016 The UK’s new car market got off to a positive start in January, with registrations climbing 2.9% compared with the same month in 2015 to reach an 11-year high of 169,678 units. January 2005 saw 181,474 new cars registered.Private and business buyers drove this growth with demand for new cars up by 8.2% to 73,061 and 5.0% to 6,716 units respectively, while the fleet sector declined slightly by 1.1% to 89,901. The month marks the highest number of new cars registered to private buyers in January in 12 years.1Alternative-fuel vehicles also grew in popularity – and market share – with registrations up by 32.1% on January 2015, to account for a record 3.6% of registrations. Petrol hybrids showed the largest growth – up 44.1% to 3,783 cars, while plug-in hybrid demand grew 32.3% to 1,592 vehicles and pure electric cars enjoyed an uplift of 14.1% to 584 units. Demand for diesel, which just retained the majority market share, remained stable, up 0.6%, while petrol registrations grew 3.7%.Mike Hawes, SMMT Chief Executive, said, “January’s solid performance puts the new car sector in a good position to start the year. Providing consumer confidence remains strong, we expect a more stable 12 months ahead, broadly similar to 2015 which was, of course, a record year.”Download the January 2016 new car registrations news release and data table.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more

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