Ten year high for new car registrations

Ten year high for new car registrations

Last month saw the highest demand for new car registrations in ten years, since March 2004, with the new 14 plates helping to push sales up by 13.7%.

In data released by the Society of Motor Manufacturers and Traders (SMMT) we see that in total, 464,824 new vehicle registrations were made in March 2014. The Chief Executive of the society, Mike Hawes, has commented that a good deal of this growth in sales can be put on the shoulders of lower running costs coming from today's economical vehicles, and the competitive market for finance deals currently being seen. He also continued to say that he expects the market to remain positive for the rest of 2014, though this rate will probably not be as dramatic as witnessed in March.

Last month was also the best ever month recorded for vehicles fuelled with alternative fuel sources, such as electric vehicles, hybrids and LPG. In total, 8,713 of such vehicles were registered in March. These bumper sales have helped to catapult the popular Toyota Yaris into the top 10 bestseller list for the first time, as a hybrid variation is available to those with an eco-mindset.

Apart from the appearance of the Toyota Yaris in the top 10 bestsellers list, at the tenth place, the list remains similar to previous months. The Ford Fiesta retains it's usual throne, with the Ford Focus and Vauxhall Corsa following on with similar sales figures to one another. Still nothing comes close to knocking the Fiesta off it's long held position.

A final word from the Chief Executive of the SMMT, Mike Hawes: "Given the past six years of subdued economic performance across the UK, there is still a substantial margin of pent-up demand that is contributing to a strong new and used car market."

Top 10 bestsellers for March 2014

Ford Fiesta - 25,753
Ford Focus - 16,860
Vauxhall Corsa - 16,231
VolksWagen Golf - 13,142
Vauxhall Astra - 11,359
Nissan Qashqai - 8,858
VW Polo - 8,306
Fiat 500 - 8,136
BMW 3 Series - 7,782
Toyota Yaris - 7,438

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