Fleet registrations up 25.8% in December & 5.7% for 2013
Latest figures from the Society of Motor Manufacturers & Traders (SMMT) show that a total of 2,264,737 cars were registered in 2013, up 10.8% on 2012 and exceeding the organisation’s 2.25 million forecast for the year. On average, an additional 600 extra cars registered per day in 2013 than in the previous year.
Within the fleet sector, full-year registrations rose 5.7% from 1,025,501 to 1,084,279 units. Private registrations rose 15.6% but it was actually the sub-25 “business” sector that saw the highest percentage increase, with a rise of 18.0% from 89,668 to 105,836 units.
The full-year results were reinforced by a strong performance in December, marking the 22nd consecutive monthly rise. Fleet registrations saw an impressive 25.8% rise from 66,960 to 84,213 units whilst private registrations were up 19.8%. However it was the sub-25 sector that again saw the highest percentage increase, with registrations up 35.9% from 5,617 to 7,631.
The SMMT said that the results show that the UK is firmly secured as Europe's second largest car market and the only one to grow consistently throughout the year. However, it added its forecast that the 2014 market is expected to stabilise with sustainable growth of around 1% over the year.
‘With its best year since a pre-recession 2007, the UK new car market has helped stimulate the country's economic recovery,’ said Mike Hawes, SMMT chief executive. ‘While the European market is only now showing signs of improvement, the UK has consistently outperformed the rest of Europe with 22 consecutive months of growth. The 10.8% increase in 2013 reflects the attractive financial offers available, as well as increased demand for more technologically advanced new cars. We expect new car registrations to remain stable in 2014 as customers return to a more regular replacement cycle.’