New car registrations in the UK increased in May, marking the 39th consecutive month of growth for the industry, new figures have shown.
According to data from the Society of Motor Manufacturers & Traders (SMMT), 198,706 units were sold last month a 2.4 per cent rise on the same month on May 2014. In particular the organisation pointed to the strength of the ultra-low emission vehicles (ULEVs) market, which is witnessing increasing demand each month.
New cars sales are a good indicator as to the health of the industry as a whole, with used car dealers also benefitting as motorists trade in older vehicles. It is important for any motor trade professional or business to monitor industry news such as this because it can be helpful in determining the level and type of cover they require through a road risks insurance or motor trade insurance policy.
SMMT's research found that 11,842 ULEVs were registered between January and May, which is a substantial four-fold rise on the 2,838 registrations seen in the same period last year. The organisation says this is indicative of two things: firstly, that there is greater choice in ULEVs (around 20 compared to six in 2011); and secondly, that motorists are increasingly aware of environmental issues and are trying to do their bit to address them.
Mike Hawes, SMMT chief executive, commented: “The remarkable growth in demand for plug in vehicles is expected to continue as the range of ultra-low emission vehicles on sale increases. Meanwhile, we anticipate a natural levelling out of the overall new car market throughout the remainder of 2015.”
