The UK car market posted growth of 6.2% in June, leaving it on course to post 2.4m units for the year.
The SMMT said that car sales for the first half of the year stood at 1,287,265 units, a 10.6% rise on last year’s pace and the best half-year total since 2005.
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Mike Hawes, SMMT Chief Executive, said: “Improving economic conditions have helped propel the UK new car market to a strong first half-year performance, with registrations up 10.6% on the same period in 2013.
The SMMT forecasts a 2.4m car market for 2014, a figure that would leave the market up by more than 6% on last year. Some analysts say that market growth could be nearer 10%, as the relatively strong UK economy and low interest rates combine to stimulate demand.
The SMMT also maintains that consumers are being attracted to lower running costs on more fuel efficient vehicles.
“Key to attracting consumers is the ever-improving efficiency of new cars, an important factor that is highlighted by the 51.3% increase in alternatively-fuelled vehicle registrations so far this year. The overall market has risen faster than we were expecting but, after a bumper March, growth is showing signs of stabilising around our forecast level.”
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