Thursday, December 06, 2012
Private new sales’ best year since 2008 - SMMT
New car registrations were up 11.31% on last year to 149,191 units for November, confirming the UK market as the second largest in the EU, according to figures from the Society of Motor Manufacturers and Traders (SMMT).
Year-on-year growth recorded in every month so far this year except February has put the full-year market on course to record the largest volume of new registrations since 2008 and the SMMT has attributed this growth particularly to private sales which stood at 65,327 units in November, up 20.37%; 878,460 units, year-to-date, up 12.94%.
Customer retail has been cited as a boost to the overall picture in nearly every month this year: including 14.8% growth in April, 14.3% in May, 26.4% in July and 23.89% in October.
Both the SMMT and other commentators pointed to the growth of customer retail as supporting the market. Richard Lowe, head of retail and wholesale at Barclays, said: "New car sales have continued to outperform - driven by private demand rather than business".
Year-so-far and the year ahead
Year-to-date, new car registrations have grown by 5.43% to 1,921,052 units. Typically, December registrations top 100,000, putting the SMMT forecast of more than two million new sales in 2012 on target.
By SMMT figures, it would take a slump in December registrations to reach the forecast made by Motor Finance, on the basis of September's figures, of just 1,997,844 units, or the forecast by Professor Peter Cooke and White Clarke Group.
However, Paul Everitt, chief executive of the SMMT, warned the "outlook for 2013 remains challenging".
Lowe was in agreement and said: "the sector will do well to maintain the performance levels seen during 2012. That said, this is a resilient and dynamic sector which has proved its ability to cope with changing demands."
DATED: 06.12.12
FEED: MF
