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New Car Registrations up 13.4% in June

More attractive figures from the UK car industry It is that time of month again when the UK's car industry holds its breathe as the Society of Motor Manufacturers and Traders (SMMT) does its sums and announces the UK sales figures for the previous month.

More attractive figures from the UK car industry It is that time of month again when the UK's car industry holds its breathe as the Society of Motor Manufacturers and Traders (SMMT) does its sums and announces the UK sales figures for the previous month. The UK has been on a roll, with sales figures increasing steadily but that doesn't mean that there can't be a hiccup, does it? So on to the figures for June and the news is in fact excellent once again. The SMMT figures show that UK registrations of new cars rose in June by an impressive 13.4% in comparison to the same month last year.

 

The results mean that new car sales in the UK have now risen for 16 consecutive months, with the total sales of new motors for June reaching nearly 215,000. The SMMT commented that the growth is being powered by strong demand from private buyers and that the industry appears to be on course to smash sales figures for the year of 2012. Although private sales are leading the way, with growth of 17.1% for the year so far, the fleet and business sectors both grew too. In terms of the models that are selling well, the big manufacturers of Ford and GM are seeing the best results. The Ford Fiesta has been the bestselling car this year, followed by the Ford Focus and then the Vauxhall Corsa.

 

The continued rise in UK car sales remains in stark contrast to the decline seen across the EU. David Raistrick, who is a leading expert on the car industry at consulting firm Deloitte, commented: "The need to compete by providing the low finance rates highlights the increasing importance within Europe of the UK market as the level of sales in Germany, France, Italy and Spain continues to contract. With base rates remaining at historically low levels, there is no immediate end in sight for the availability of relatively cheap financing options for the UK car buyer."

 

The results bode well for a UK economy that continues to be flat despite the best efforts of the coalition government. It should be emphasised that these figures relate to actual UK sales as opposed to exports of UK-built cars. The UK's car industry has a high proportion of luxury vehicles and these are selling extremely well in emerging economies like China. It is particularly pleasing therefore that the domestic sales of more modest models are likewise doing very well indeed.

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