The UK new car market achieved a 12-year high in January, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). The latest gain comes in spite of analyst predictions that the market will cool this year after hitting almost 2.7m units in 2016.
The SMMT reported that some 174,564 vehicles left showrooms last month – a 2.9% year-on-year uplift and the highest level since 2005.
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The trade association also pointed out that the alternatively fuelled vehicle segment grew 19.9% to take a record 4.2% market share – the first time 4% has been surpassed. The figures also showed that diesel share of the UK car market is continuing to fall. Diesel registrations were down -4.3% in January but new car registrations of petrol cars grew 8.9%.
Across the market, private motorists led the growth, registering 76,729 new cars – up 5.0%. Fleet demand also grew marginally by 1.4%, while business registrations fell by -1.0%.
Mike Hawes, SMMT Chief Executive, said: “2017 got off to a good start in the new car market, buoyed by a great range of new models which are safer and cleaner than ever before. It’s encouraging to see alternatively fuelled vehicles benefiting from this positive growth, reaching a record market share. After record growth in 2016, some cooling is anticipated over the coming months, but provided interest rates remain low and the economy stable, the market is in a good position to withstand its short-term challenges.”
Ford led the UK car market in January and the Fiesta was the top-selling model.
