UK Car Industry Sustains Longest Ever Period Of Growth

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5th June 2014 17:18 - Automotive

The UK car industry has sustained its longest ever period of growth with month-on-month increases dating back to March, 2012.

The findings, which were published by the Society of Motor Manufacturers and Traders (SMMT) today, show 27 consecutive months of incline for the car market, the longest it has recorded since the late 1980s.

The industry’s previous bests were:

  • May 1987 – June 1989 (26 months)

  • August 1962 – April 1964 (21 months)

  • October 2000 – May 2002 (20 months)

  • October 1982 – December 1983 (15 months)

Rises were evident for new car registrations in May with units reaching 194,032 - a 7.7% increase from last year’s figures (180,111) and the most in May since 2004.

A fruitful start to 2014 has also seen registrations exceed one million units with a notable 11.6% upsurge, equating to 1,058,974 sales – 110,308 more than last year’s figures at this stage (948,666).

To put those numbers in to perspective, the car industry’s total yearly sales for the last five years are:

  • 2013 – 2,264,737

  • 2012 – 2044,609

  • 2011 – 1,941,253

  • 2010 – 2,030,846

  • 2009 – 1,994,999

SMMT, however, forecasted a 6% rise in registrations for the year and Mike Hawes, Chief Executive of SMMT, believes growth rates will level off over the next few months as demand stabilises to reflect this.

Hawes believes the industry’s record-breaking growth streak echoes the UK’s continually improving economic conditions and that increasingly confident customers have been attracted to “fantastic” products.

The Ford Fiesta has proved to be the most favourable car so far in 2014 topping sales both in May and for the year-to-date:

Best sellers May:

  1. Ford Fiesta 9,450

  2. Volkswagen Golf 7,134

  3. Vauxhall Corsa 6,536

Best sellers year-to-date:

  1. Ford Fiesta 58,940

  2. Ford Focus 37,355

  3. Vauxhall Corsa 34,324

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