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Record growth for the UK new car market

15th July 2016

The UK new car market has seen record numbers of registrations so far in 2016, with growth of 3.2 percent within the first six months of the year, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).

In the first six months of the year the SMMT figures show that 1,420,636 new cars were registered - the best half-year performance ever recorded. June 2016 showed the second best new car sales since 2000, bettered only by June of 2015.

Diesel registrations grew by 2.3 percent while petrol registrations grew by 3.0 percent. Alternative fuel vehicles (hybrids and electric vehicles mainly) continued to make significant gains with growth of 21.3 percent compared to the first six months of 2015.

The top five best selling cars of 2016 so far were the Ford Fiesta, Vauxhall Corsa, Ford Focus, Volkswagen Golf and the Mini.

It remains to be seen how much the result of the EU referendum might affect new car sales.

The Chief Executive of the SMMT, Mike Hawes, commented: "It is far too soon to determine whether the referendum result has had an impact on the new car market. The first six months saw strong demand at record levels but the market undoubtedly cooled over the second quarter.

"It is important the government takes every measure to restore business and economic confidence to avoid the market contracting in the coming months."

Image: ammer / freedigitalphotos.net

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