THE new car market was stable in August, ahead of the important 62 plate change, according to the latest figures from the SMMT.
The organisation’s monthly numbers showed that new car registrations grew by one per cent to 59,433 units. And the market has increased by 3.3 per cent to 1,260,997 units from January to August, up more than 40,000 units on 2011.
Accounting for around three per cent of the total market, August represents a small volume month ahead of the September plate change that typically accounts for around a hefty 17 per cent of the year’s total.
Demand for small and dual-purpose cars continues to grow strongly, says the SMMT.
Paul Everitt, chief executive of the organisation, said: ‘The economic outlook remains challenging, but vehicle manufacturers and dealers are working hard to sustain demand and deliver great-value products and services to customers.’
Richard Lowe, head of retail and wholesale at Barclays, said: ‘After months of steadily rising figures, it was only a matter of time before consumer appetite for new cars eased. This brings to an end a positive summer of sales, despite the odds.
‘Anecdotal evidence suggests that September’s figures will show a strong bounce as the draw of the new plate change and attractive finance packages encourage more buyers into dealerships.’