The Society of Motor Manufacturers and Traders (SMMT) has increased its predictions for this year’s new car registrations in reaction to strong growth across the private, fleet and business sectors last month.
New car registrations grew by 12.7 per cent in July compared to the same month in 2012. A total of 162,228 units were registered during the month and it was the 17th successive monthly rise for the UK market.
The SMMT has upgraded its previous cautious forecast and now predicts that sales for the whole of 2013 will hit 2.216 million vehicles, 8.4 per cent ahead of last year.
“Recently we’ve seen a range of economic indicators point to improving conditions, and our raised sales forecast emphasises how positively we view the rest of 2013,” said Mike Baunton, SMMT interim chief executive.
The new car registrations continue to be equally shared between petrol and diesel fuels. For the year to July, petrol held a 49.4 per cent market share and diesel 49.3 per cent. Alternatively fuelled vehicles accounted for the remaining 1.3 per cent of the market.