Cars Registrations SMMT News

Consumer confidence drives record year

07 January 2004 #Cars #Registrations #SMMT News

  • Third consecutive record year for new car market at 2,579,050 units
  • Private buyers boost UK market with 48.7 per cent market share
  • Diesels hit record market share, up 16.9 per cent for 2003

‘The 2003 UK car market outshone Europe with a third record year of registrations. While figures fell across the continent, the UK market continued to climb cementing our position as Europe’s second biggest market,’ commented SMMT chief executive Christopher Macgowan.

‘Increased consumer confidence has seen private buyers lead a strong, stable market, reflecting the general economic trend of the country. An ever-growing range of models boasting newly developed technologies, has led to consistent growth over the last decade with volumes looking set to remain stable into 2004,’ he continued.

Notes to editors

1. New car registrations in the UK reached 2,579,050 million units in 2003, 179,050 units up on the initial January outlook. 2003 is now the highest annual market on record. In 2002 registrations reached 2,563,631 units and 2,458,769 units in 2001.

2. Full year private registrations reached 1,254,927 units taking 48.7 per cent of the total annual market. This was the highest figure since 1990.

3. Diesel registrations took a record market share climbing 16.9 per cent to 704,637 units for 2003. In 2002 diesel registrations reached 602,623 units (23.5 per cent of the total annual market) and 436,591 (17.8 per cent of the total annual market) in 2001.

December 2003

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.

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