The UK car market has posted another strong month in October with sales up 14.2% to 179,714 units. The SMMT said the result ‘exceeded expectations’ but also cautioned that demand is set to ‘stabilise’ in the coming months.

October’s result marked the 32nd consecutive month of growth and also took the market so far this year above 2m units.

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Some 2,137,910 cars have been sold in the UK so far this year, 9.5% ahead of the same period last year.

Mike Hawes, SMMT Chief Executive, said: “The October new car market outperformed expectations, with registrations showing the strongest growth in a month since March’s 18% rise. With economic confidence still rising, customers continue to benefit from attractive financial packages on exciting new models.

“We still expect the overall market to level off as we head towards 2015, but the exception to that rule will be alternatively-fuelled vehicles, demand for which will continue to accelerate.”

John Leech, KPMG’s UK Head of Automotive, predicts that the UK car market this year will exceed 2.5m units and also suggested that a “plateauing out” is in prospect for 2015. He said of October’s results: “This was an unexpected leap in UK car sales, as most in the industry expected the market to plateau.

“These latest figures put the UK on course to smash the 2.5m mark by the end of the year. As PPI payments to consumers are tailing off, it is rising consumer confidence taking advantage of cheap car loans that is driving the market. Consumer confidence is still well below pre-recession levels so it may be that the market continues to power ahead this year before plateauing out in 2015.”

See also: COMMENT: UK car market set to plateau

Key UK car market stats (source SMMT)

October Total Diesel Petrol AFV Private Fleet Business
   
2014 179714 93192 81830 4692 80940 89718 9056
2013 157314 83751 70611 2952 71232 77875 8207
% change 14.20% 11.30% 15.90% 58.90% 13.60% 15.20% 10.30%
Mkt share ’14   51.90% 45.50% 2.60% 45.00% 49.90% 5.00%
Mkt share ’13   53.20% 44.90% 1.90% 45.30% 49.50% 5.20%
   
Year-to-date Total Diesel Petrol AFV Private Fleet Business
   
2014 2137910 1067425 1027951 42534 1037324 994487 106099
2013 1952238 962505 961609 28124 940668 920098 91472
% change 9.50% 10.90% 6.90% 51.20% 10.30% 8.10% 16.00%
Mkt share ’14   49.90% 48.10% 2.00% 48.50% 46.50% 5.00%
Mkt share ’13   49.30% 49.30% 1.40% 48.20% 47.10% 4.70%

2007 2008 2009 2010 2011 2012 2013
Total cars 2404007 2131795 1994999 2030846 1941253 2044609 2264737
Best sellers October       Year-to-date

 
1 Ford Fiesta 9157 1 Ford Fiesta 116087
2 Ford Focus 7116 2 Ford Focus 74131
3 Vauxhall Corsa 6184 3 Vauxhall Corsa 68877
4 Volkswagen Golf 5683 4 Volkswagen Golf 64347
5 Nissan Juke 4311 5 Vauxhall Astra 51043
6 Nissan Qashqai 4287 6 Nissan Qashqai 43207
7 Volkswagen Polo 3968 7 Volkswagen Polo 40740
8 Audi A3 3902 8 Audi A3 39498
9 MINI 3755 9 Fiat 500 38096
10 Vauxhall Astra 3561 10 Nissan Juke 32658

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