Cars Registrations SMMT News

UK new car registrations reach 10-year high in 2014

07 January 2015 #Cars #Registrations #SMMT News
  • 2,476,435 new cars registered in the UK in 2014 – the most in a calendar year since 2004.
  • Year was fourth-largest of all time; only 2002, 2003 and 2004 saw more cars registered.
  • 2014 market grew 9.3% over the previous year, ahead of the EU average of 5.7%*.
  • UK remains second largest market in EU (behind Germany and ahead of France, Italy and Spain), and recorded second-largest growth of these top five EU markets.
  • Every month in 2014 saw an increase, with December’s 8.7% rise the 34th consecutive month of growth.
  • Huge growth for plug-in car market, which saw volumes quadruple from 3,586 in 2013 to 14,498 in 2014.

 

Mike Hawes, SMMT Chief Executive, said, “UK new car registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with confidence in the economy saw consumer demand for the latest models grow consistently and strongly.

“The year was particularly strong for alternatively-fuelled vehicles as increased choice, coupled with a growing desire for reduced costs and greater efficiency, resulted in a quadrupling of plug-in car registrations over 2013. With a variety of new plug-in models expected in 2015, this area of the market will continue to grow significantly. For the market as a whole, we expect a more stable 2015 as demand levels off.”

UK new car registrations (rolling year total) – 2008-2014, with 2015 forecast

UK new car registrations (rolling year total) – 2008-2014, with 2015 forecast

 

UK new car registration figures december 2014 and full year 2014

Top ten best selling cars UK new car registration figures december 2014 and full year 2014

Top ten best selling cars UK new car registration figures december 2014 and full year 2014

 

2014: the year of the alternatively-fuelled vehicle

2014: the year of the alternatively-fuelled vehicle

  • 2014 saw a remarkable surge in demand for ultra-low emission vehicles (ULEVs): registrations of plug-in cars increased four-fold from 3,586 in 2013 to 14,498 in 2014.

 

  • ULEVs offer increased efficiency and reduced running costs, and increasing consumer awareness has driven registrations upwards.

 

  • Consumers are faced with a burgeoning choice when it comes to ULEVs: there are now more than 20 models available to buy, compared with just six in 2011. Body styles include hatchbacks, SUVs and coupés.

 

  • Each of the 10 best-selling brands in the UK now has a ULEV in its model range.

 

Registrations in top five EU markets, January-November 2014 (Source: ACEA)

 

Registrations in top five EU markets, January-November 2014 (Source: ACEA)

  • The UK car market has seen the second-largest level of growth in Europe, 3.6 percentage points greater than the EU average of 5.7%.

 

  • Moderate growth was seen in the majority of Europe’s largest markets – France (1.1%), Germany (2.6%) and Italy (4.3%).

 

  • A national scrappage scheme means Spain is the only market in the EU top five to exceed the UK’s level of growth, posting an 18.1% increase.

 

Share of UK new car market by segment – 1999, 2004, 2009 and 2014

Share of UK new car market by segment – 1999, 2004, 2009 and 2014

 

  • The past 15 years have seen a shift in the types of cars that people are buying, with two trends particularly evident.

 

  • As buyers seek lower running costs, demand for small cars (Mini and Supermini segments) has grown. The latest small cars offer significant advances in comfort and safety levels.

 

  • A more recent trend is the strong growth of the Dual Purpose (4×4, crossovers) and Multi Purpose segments, with buyers attracted by the extra space, style and versatility offered by these models.

 

Click through to download the December and full year 2014 new car registrations news release and data table.

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