- 2013 confidence continues into January: 154,562 new cars registered, up 7.6%.
- Buyers attracted by fuel efficiency; typical new car 27% more efficient than seven-year-old model.
- Alternatively-fuelled vehicle registrations increase 25% over January 2013.
- 2014 set for more moderate growth than 2013.
“The new car market ended 2013 on a high, so it is encouraging to see the January market start the year strongly, rising 7.6%,” said Mike Hawes, SMMT Chief Executive. “As fuel economy is a major consideration for many motorists, ongoing investment by vehicle manufacturers in innovative, fuel-efficient technology is a key factor in the growing demand for new cars. Looking ahead, the UK automotive industry expects to see moderate, sustainable growth in 2014.”
Average mpg of new cars by segment – 12 months to January 2008 vs January 2014 (registration-weighted)
- Registrations of alternatively-fuelled vehicles (AFVs) outperformed the overall market in January 2014, growing 25% and taking an improved 1.8% share of volumes.
- Petrol-electric hybrids accounted for almost all AFV registrations in 2008. Since then, the increased availability of pure electric, plug-in and diesel-electric powertrains has helped the overall AFV market gain more traction.
- The new government/industry ‘Go Ultra Low’ campaign to promote the advantages of ultra-low emission vehicles will provide a further stimulus to this important, growing market.
- The Plug-In Car Grant (up to £5,000) continues to provide an important incentive to buyers of pure electric and plug-in vehicles.
Alternatively-fuelled new car registrations – 12 months to January 2008, 2013 and 2014
Click through to download the full January 2014 new car registrations news release and data table.