- UK new car registrations grew 11% to 180,111 units in May.
- Private demand climbed 20.9%, outperforming pre-recession volumes recorded in 2007.
- May’s new car market secured the 15th successive month of growth and the largest May outturn in six years.
- The new car market has risen 9.3% for the year-to-date to 948,666 units.
- The year-to-date new car market remains 9.2% off 2007 volumes for the same period, but trends among private buyers provide a good indication that consumer confidence is strong.
|Mkt share ’13||50.8%||48.0%||1.1%||46.8%||49.9%||3.3%|
|Mkt share ’12||52.4%||46.3%||1.3%||42.9%||53.7%||3.4%|
|Mkt share ’13||49.1%||49.6%||1.3%||48.5%||47.2%||4.3%|
|Mkt share ’12||51.1%||47.5%||1.4%||45.7%||50.2%||4.2%|
UK new car market sustains growth momentum in May, with private demand exceeding pre-recession volumes
- Compared with May 2012, UK new car registrations rose by 11% or 17,823 units in the month to 180,111 units
- The 2013 May market was just 3% below the 2007 level, and the highest May volume in six years.
- The market has grown for 15 successive months, largely in line with recovery in the private market.
- Private demand grew 20.9% in May, and pushed volumes back above 2007 pre-recession levels. Private registrations over the first five months of the year have risen 16.2%. Fleet and business volumes also improved.
- The growth reflects a combination of factors, which may include consumers returning to the new car market after delaying regular replacement cycles, renewals of Scrappage Incentive Scheme vehicles, motorists switching to more efficient vehicles in every class and attractive offers catching the attention of buyers with funds and access to finance. A switch from used to new may also be occurring, reflecting past low new car sales restricting the supply of used cars, and new car packages looking more affordable in comparison with used car options.
- Total new car registrations for the year-to-date remain 9.2% off 2007 volumes but growing consumer confidence has meant that private demand for the same period is just 2% off levels posted in 2007.
- Mini segment cars have seen the strongest growth so far in 2013, although most segments have posted increases.
- Small cars tend to be petrol-fuelled and petrol-powered cars have seen the strongest growth so far in 2013, up 14%.
- The Ford Fiesta was the best selling model in both the month and year-to-date.