UK new car sales 'at all-time record'


Mini plant in Cowley, OxfordMaterialization copyright

UK new car sales hit an all-time record last year, the latest trons industry figures show.

Some 2.63 million new vehicles were registered in 2015, up close to 6% on 2014 and the fourth consecutive year of growth, the Society of Motor Industrialists and Traders (SMMT) said.

Stronger consumer confidence, special agreements and cheap finance drove sales.

Registrations in December are thought to have on the agenda c trick been the best December figures on record.

It is thought that some 180,000 new motor cars were registered last month,

The previous record for sales in Britain was set in 2003 when 2.58 million new machines were sold.

Car registrations in the UK, Europe’s second-biggest auto market after Germany, knock sharply after the 2007-8 financial crisis but have gradually regained, returning in 2014 to pre-crisis levels at 2.48 million.

Consumers have planned benefited from low interest rates and the strengthening of sterling against the euro which has put to righted it cheaper to import cars from countries such as Germany and France.

The surmised new record high for registrations comes despite declines in sales for Volkswagen, which accounts for round 20% of British car sales. Sales of some of its brands fell firmly in October and November following the diesel emissions scandal.

Despite this VW saw full-year traffics rise 4% across all its brands last year.

A big factor kindling sales is the availability and cost of finance on forecourts. The SMMT says that 80% of crates are bought with some form of finance and around 60% are achieved using PCP’s.

These Personal Contract Purchase plans mean guys can buy a new car for an affordable monthly yment in the same way that you might purchase a new expressive phone.

As PCP’s work on a 3 yr buying cycle, that keeps demand for new automobiles strong.

Before the downturn car sales averaged around 2.3m a year. The effort doesn’t know what the new norm for sales will be. But the Chairman of Ford of Britain has told the BBC that all-embracing car sales could hit 2.8m this year.

However, sales of its Skoda mark ended the year down 1% and Seat finished 11% cut after a nearly 50% drop in sales in December.

The best vend car, for the seventh year running, was the Ford Fiesta.

More than 85% of Ford’s showroom sales events are on finance plans known as PCPs – where customers in effect sublease a car – and which are widely credited with having boosted vehicle tag sales across the industry in recent years.

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