17 months of new car market growth
18 per cent rise in February registrations
- February registrations up 18.1 per cent from 79,151 to 93,515 units
- Registrations of cars to private buyers soar 27.6 per cent to 40,046 units
- Total year-to-date registrations rise 12 per cent to 298,991 units
SMMT chief executive Christopher Macgowan said, ‘British consumers are clearly
confident that their local franchised dealer is giving them the best deal on
their new car. In the past week, independent reports have confirmed that prices
continue to fall, and offers such as low-rate finance, free insurance and the
longest warranties in Europe contribute to a strong, competitive market.’
He added, ‘Manufacturers and franchised dealers provide the ultimate choice
of models and specifications by building cars to order. Any move towards supermarket
style multi-franchised dealers could threaten this high level of service and
open the way for salesmen to steer customers towards the brand offering the
greatest commission rather than the most suitable model.’
Notes to editors
- Large fleet and business registrations rose by 8.7 per cent and 38.7 per
cent in February. - Diesel registrations soared 63.5 per cent in February, from 13,025 to 21,302
units. Market share now stands at 22.8 per cent, the highest since January
1995. - New car registrations in the UK are forecast to reach 2.35 million units
in 2002, with the March market expected to top 420,000 units.
February 2002
The attached tables show the registration figures for Great Britain, Northern
Ireland, The Isle of Man and the Channel Islands in detail. Top performers by
range and UK penetration figures are also listed. Providing the SMMT is acknowledged
as the source of this information, the figures may be quoted. Substantial reproduction
needs specific approval by the SMMT.
