Highest car registrations seen in a decade

Highest car registrations seen in a decade 4th April 2014

New car registrations have reached the highest level seen in a decade, with consumers keen to get a vehicle with the new 14 plate.

According to figures for March from the Society of Motor Manufacturers and Traders (SMMT), new car registrations were up by 464,824 or 17.7 per cent.

Chief executive of SMMT Mike Hawes explained that the high level of growth was down to increasing confidence among buyers and a number of great deals that are out there.

He said: "Given the past six years of subdued economic performance across the UK, there is still a substantial margin of pent-up demand that is contributing to a strong new and used car market.

"There has never been a better time to buy a new car thanks to attractive finance deals and advanced technologies that often make new cars cheaper to run."

Mr Hawes added that it is believed the market will continue to perform well throughout the year although the pace will be more modest.

The most popular car among buyers was the Ford Fiesta, which saw 25,753 new registrations in March. In second place was the Ford Focus, with 16,860 units sold.

This was closely followed by the Vauxhall Corsa with 16,231 units sold. The Volkswagen Golf was in fourth with 13,142.

Making up the rest of the top ten of popular vehicles to buy from new were the Vauxhall Astra, Nissan Qashqai, Volkswagen Polo, Fiat 500, BMW 3 Series and Toyota Yaris.

It was only in 1999 that the car industry moved towards changing registration plates twice a year. But since then, the only month that saw a higher number of new vehicle registrations was March 2004 with 466,954.

Following the latest results, year-to date registrations have been found to have increased by 13.7 per cent or 688,122 new vehicles.

Typically, March tends to be the busiest year for new vehicle registrations and accounts for one fifth of all those throughout the year.

Posted by Danielle Barge