SMMT raises forecasts for new car registrations
By PRW Staff
Posted 6 February 2013
Forecasts for the number of new car registrations in the UK this year have been revised upwards after data suggested strong demand in January.
The Society of Motor Manufacturers and Traders (SMMT) said that new car registrations had risen 11.5% in January to 143,643 units, with growth boosted by a near-16% increase in private registrations during the month.
Mike Baunton, the SMMT’s interim chief executive, said 2013 had begun “confidently” for the new car market.
"Lifted by a solid rise in private demand, the new car market posted its 11th successive month of growth with motorists attracted to forecourts by the latest models and competitive deals on offer.
“Building on a strong performance in 2012, SMMT has increased its market forecast - we anticipate a modest rise over the year, followed by further growth in 2014," he said.
Last month the SMMT reported that 2012 had been a record year for new car registrations, up 5.3% on the previous year to 2,044,609 units, boosted by strong consumer demand.
Annual volume in 2012 had been the highest since 2008, and the year recorded the largest percentage increase since 2001.
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