- New car registrations hit 157,314 in October, an increase of 4.0%.
- Registrations for 2013 to-date climb 10.2% to 1,952,238 units.
- SMMT new car forecast raised from 2.22 million to 2.25 million units for 2013, with the market set to stabilise and grow at around 1% in 2014 and 2015.
- Private market continues to drive total volumes up, with 4.5% gain in October and 15.7% increase over year-to-date.
“With October new car registrations up we have now seen 20 consecutive months of growth,” said Mike Hawes, SMMT Chief Executive. ”These sustained rises have been driven by robust private demand, a trend that has given us the confidence to raise our year-end forecast to 2.25 million units – 10% ahead of last year. Looking ahead, we anticipate more moderate growth as the market stabilises.”
- The UK new car market has seen a shift from traditional family cars (particularly the Upper Medium segment) towards smaller vehicles (eg Ford Fiesta), as well as MPV (eg Vauxhall Zafira) and Dual Purpose (eg Kia Sportage) vehicles between 2003 and 2013.
- Ever greater emphasis on fuel efficiency, emissions and running costs, coupled with the greater refinement, performance and specification of smaller cars, has driven the trend for downsizing.
- Increased choice, comfort and safety, as well as improved functionality, have enabled the market mix to evolve over time.
- Supermini segment remains largest by volume, while Dual Purpose has seen the largest growth in market share.
Click through to download the full October 2013 new car registrations news release and data table.