UK new car sales rose 12% year on year in February to 76,958 cars, for a third consecutive full year of increases.
Fleet registrations were up 19.9% while the private market saw an increase of 3.4%.
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February is traditionally one of the quietest months of the year ahead of a number plate change on 1 March.
The SMMT said the UK car market’s sustained expansion is the longest ever seen, beating the previous record of 26 months set in the late 1980s. The number of new cars registered has risen every month since March 2012 as the UK continues to bounce back from the recession and consumer demand has been driven by new products and attractive finance deals.
SMMT chief executive Mike Hawes said: “Three years of continuous growth in the new car market is remarkable and reflects the strong upturn in the confidence of UK car buyers since the recession.
“Registrations of fleet and business cars have outpaced the private market in February, reflecting the increased business confidence across the UK. With most fleet car buyers on a three year replacement cycle, many of those cars purchased at the beginning of the current growth period are now due for replacement. Over the course of 2015, however, we are expecting a more stable market to emerge given there has already been an extended period of consistent growth.”
David Raistrick, UK automotive leader at Deloitte said: “The run of monthly comparative growth began back in March 2012 and has now reached three years without, on the surface, any immediate signs of coming to an end. However, there was an indication in January that, whilst the total new car sales maintained the trend, the momentum provided by the private consumer may be running out of steam. Indeed, the 5.1% fall in sales was the first comparative monthly fall since October 2012 and taken with today’s figures, it suggests that 2015 will require a boost from the business and fleet sector to maintain the good news story.
“The continued rise of salary sacrifice schemes plays a part here and is one of the primary growth areas in the fleet sector. Ever-increasing numbers of employees are opting to take a new vehicle rather than purchasing a replacement car from the used car market.
“There are a number of factors which will be affecting the private market, the most obvious one being the number of new cars sold over the past three years. With increasing numbers of these sales being on finance and personal contract purchase plans, with minimum terms usually being 24 months, the significant number of private sales over the last 2 years will have taken many private buyers out of the current market.
“This year also has seen significant new model announcements from major manufacturers which may have persuaded those private buyers to delay until the launch of the 2015 version of their preferred vehicle. The effect of the forthcoming election also cannot be underestimated as this will be in the consumer’s mind, much as it is within the business community, with any uncertainty potentially leading to buying decisions being put on hold.
“Finally, whilst it must be remembered that total new vehicle registrations cannot keep increasing forever, the current level is a strong indicator of a very healthy sector. Flat, or even slightly negative, growth for the year as a whole should not be a cause for concern and is still a positive result for 2015. The UK new car market has, for the past three years, acted as a barometer for the recovery of the UK economy and consumer confidence. It appears that the business and fleet sector may be the key to this being maintained.”
All data from SMMT
| February | Total | Diesel | Petrol | AFV | Private | Fleet | ||||||||
| 2015 | 76,958 | 38,553 | 36,553 | 1,852 | 30,899 | 44,719 | ||||||||
| 2014 | 68,736 | 33,094 | 34,430 | 1,212 | 29,887 | 37,312 | ||||||||
| % change | 12.0% | 16.5% | 6.2% | 52.8% | 3.4% | 19.9% | ||||||||
| Mkt share ’15 | 50.1% | 47.5% | 2.4% | 40.2% | 58.1% | |||||||||
| Mkt share ’14 | 48.1% | 50.1% | 1.8% | 43.5% | 54.3% | |||||||||
| Year-to-date | Total | Diesel | Petrol | AFV | Private | Fleet | ||||||||
| 2015 | 241,814 | 120,384 | 114,980 | 6,450 | 98,527 | 135,549 | ||||||||
| 2014 | 223,298 | 112,553 | 106,674 | 4,071 | 101,180 | 113,241 | ||||||||
| % change | 8.3% | 7.0% | 7.8% | 58.4% | -2.6% | 19.7% | ||||||||
| Mkt share ’15 | 49.8% | 47.5% | 2.7% | 40.7% | 56.1% | |||||||||
| Mkt share ’14 | 50.4% | 47.8% | 1.8% | 45.3% | 50.7% | |||||||||
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |||||||||
| Total cars | 2,131,795 | 1,994,999 | 2,030,846 | 1,941,253 | 2,044,609 | 2,264,737 | ||||||||
| Best sellers | February | Year-to-date | ||||||||||||
| 1 | Ford Fiesta | 4,096 | 1 | Ford Fiesta | 12,770 | |||||||||
| 2 | Volkswagen Golf | 3,177 | 2 | Vauxhall Corsa | 9,709 | |||||||||
| 3 | Vauxhall Corsa | 2,830 | 3 | Volkswagen Golf | 7,564 | |||||||||
| 4 | Vauxhall Astra | 2,396 | 4 | Ford Focus | 6,845 | |||||||||
| 5 | Ford Focus | 2,021 | 5 | Nissan Qashqai | 6,476 | |||||||||
| 6 | Nissan Qashqai | 1,800 | 6 | Vauxhall Astra | 5,392 | |||||||||
| 7 | Vauxhall Insignia | 1,797 | 7 | Audi A3 | 5,257 | |||||||||
| 8 | Mercedes-Benz C-Class | 1,686 | 8 | Mercedes-Benz C-Class | 5,220 | |||||||||
| 9 | Audi A3 | 1,609 | 9 | Volkswagen Polo | 4,783 | |||||||||
| 10 | Fiat 500 | 1,436 | 10 | Fiat 500 | 4,581 | |||||||||
