WELL, we all know what a cracking year it was last year. But the clock has reset: what will 2015 bring?
2014 car & van sales in brief
- New car and van registrations grew for the 34rd consecutive month in December
- Cars grew 8.7%
- Vans grew 26.6%
- Total car registrations of 2,476,435
- Total van registrations of 321,686 vans were registered in 2014
- Fleet registrations rose 8.7%, up to 1,178,416, and together with business sales, were responsible for over 52% of all new registrations.
- Source: Society of Motor Manufacturers and Traders (SMMT)
What’s the likely shape of the new car and van market in 2015?
So, despite industry predictions of a slow down or even deflation in the new car and van market during 2015, with such a strong end to 2014, the SMMT believes that although demand will weaken after last year’s exceptional figures, growth is still expected.
Mike Hawes, SMMT Chief Executive said:
“For the market as a whole, we expect a more stable 2015 as demand levels off.” A spokesman for the SMMT went on to say “We expect growth in the UK market to be more moderate in 2015, with a two to three percent increase for cars and between two and 4 percent for vans.”
Also commenting on the SMMT figures, the British Vehicle Rental and Leasing Association’s (BVRLA) Chief Executive, Gerry Keaney said:
“We expect to see a further, steady increase in new leasing volumes this year. Demand for vehicle finance continues to grow – particularly from consumers, SMEs and salary sacrifice customers.”
