posted 1 year ago

New Car Registrations Hit Record High

March 2015 New Car Registrations

New car registrations hit a century record high in March 2015 so the motor industry is thriving, the Society of Motor Manufacturers and Traders has confirmed. Registrations hit 492,774 which is 6% higher than the same month the previous year - and the highest since the twice yearly registration plate was introduced in 1999. 

New Car Registrations By Region

In England, 419,826 vehicles found homes. This is followed by: Scotland (44,826), Wales (19,218) and Northern Ireland (7,415). The reminder – which increases the figure to the grand total of 492,774 – are registered either in the Channel Islands or the Isle of Man. 

37 Months Of Consecutive Growth

The market has grown for 37 consecutive months which eclipses the previous records of 26 set in the late 1980s, 21 in the mid 1960s and 20 in the early 2000s. Registrations – from January to March 2015 – now total 734,588 which is a rise of 6.8% compared to 2014.

Sales Underpinned By New Products And Finance Offers

The Society claims that these historically high figures are attributed to new products and “attractive finance packages” underpinned by low interest rates. Growth is led by the fleet sector that has grown 11.6% in the past year. The Society says this reflects the “economic confidence currently felt by UK companies”. 

2015 Top 10 Sellers

The Ford Fiesta is the best selling car of 2015. Registrations  total 39,804 units. It is followed by the Vauxhall Corsa (29,100), Ford Focus (22,287), Volkswagen Golf (19,435), Nissan Qashqai (18,686), Vauxhall Astra (15,009), Volkswagen Polo (14,821), Audi A3 (14,358), Mercedes-Benz C-Class (13,975) and Fiat 500 (13,243).

This top 10 suggests that new buyers tend to favour small to medium-size vehicles. The majority are supermini or city class models – such as the Ford Fiesta and Fiat 500 - and small family class vehicles such as the Volkswagen Golf and Vauxhall Astra. The Mercedes-Benz C-Class is the only executive vehicle in the top 10.

New Government Must Maintain Momentum

The Society of Motor Manufactures and Traders says the new government – in whatever form – must work hard to ensure the industry continues to thrive. 

Mike Hawes, Chief Executive, said:

“The challenge for a new government and industry will be to maintain this momentum and to strengthen Britain’s manufacturing capabilities through continued investment, innovation and policies which maintain our global competitiveness.” He concluded: “Whatever the general election result, the new government must keep up the commitment to the sector which is delivering at home and abroad.”