New car registrations on the rise, says SMMT

New car registrations rose 9.3% in July to 143,884 units, the fifth monthly gain in a row and the best of 2012, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).

Registrations over the first seven months have risen by more than 40,000 units, or 3.5%, to 1,201,564 units. All fuel types showed increased volumes in July, with hybrid registrations up 45.9% in the month – total sales in this sector are 1,220 units in the year to date.

“One of the key factors driving sales in fuel efficiency – that’s a high criteria for consumers,” an SMMT spokesman told PRW. “New models are another key factor,” he added.

As a result of this latest data the SMMT has revised up its forecast for new car registrations in 2012 by 20,000 units to 1.97 million.

“New car registrations rose 9.3% in July, continuing the upward trend seen during recent months. SMMT’s full year forecast is for 1.97 million cars to be registered during 2012 suggesting a slight slowing of demand in the second half of the year,” said Paul Everitt, SMMT chief executive.

“International economic stability remains a concern for vehicle manufacturers and the UK market, but intense competition and new fuel efficient products are creating great opportunities for motorists.”

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