This figure suggests that there is little prospect of the UK car parc increasing significantly enough to allow for the continued rate of growth in new car sales, whilst also supporting the used car market and underpinning residual values.
Recent car production data also highlighted that whilst production for the year has passed 500,000 cars, this is actually down 1.4 per cent on the same period last year. Manufacturers were relying on supply in the UK car market to make up for a 7 per cent drop in vehicles for export.
SMMT on May new car registrations
- New car registrations up 2.4% in May to 198,706 units, marking 39th consecutive month of growth.
- Demand for ultra-low emission vehiclesup four-fold, exceeding 10,000 in 2015, compared with 2,838 in 2014.
- Overall registrations reach 1,119,072 in 2015, up 5.7% as market stabilises.
The Society of Motor Manufacturers and Traders (SMMT) says there was a strong surge in demand for ultra-low emission vehicles (ULEVs).
- 11,842 ULEVs were registered between January and May – a four-fold rise on the 2,838 registrations in the same period last year.
The SMMT says this ULEV growth is further evidence of UK car buyers’ increasing awareness of the significant benefits of driving a ULEV, as they look to reduce their running costs and environmental impact. Motorists can now choose from a diverse range of around 20 ULEVs, compared to just six in 2011.
