8:18 am, August 6, 2013
SMMT has raised its forecast for 2013 new car registrations, predicting an 8.4 per cent increase over 2012 of 2.216 million units.
Results show a strong performance across the private, fleet and business market sectors, which saw the seventeenth successive monthly rise in July, growing 12.7 per cent to 162,228 units.
Meanwhile, registrations of alternatively-fuelled vehicles grew 17 per cent in July to 2,432 and hit 17,859 units for the January to July period.
Plug-in car registrations have also risen 70.7 per cent over the first seven months of 2013 to 1,885 units.
SMMT interim chief executive, Mike Baunton, said: ‘Strong business and consumer confidence in July saw the new car market continue to rise, posting double-digit growth in the month. Now we have evidence of consistent growth, we have raised our forecast for 2013 new car registrations to 2.216 million units, an increase of over 8% on last year.
‘Recently, we’ve seen a range of economic indicators point to improving conditions and our raised sales forecast emphasises how positively we view the rest of 2013.’
Head of retail and Wholesale at Barclays, Richard Lowe, added: After passing the half year mark with strong numbers, we continue to see robust sales keeping the UK car market head and shoulders above our European counterparts.
‘As September approaches all eyes will be on the next plate change, with exciting new models and consistently attractive offers, we’re unlikely to see the status quo changing any time soon.’
