Monthly new car registration figures hit a five-year high in September as the 63-plate registration change gave the UK market a substantial boost.
A total of 403,136 new cars were registered last month, which represents a rise of 12.1 per cent compared to the same month in 2012.
That makes September 2013 the best-performing month since March 2008 in terms of overall volume. It is the first time in more than five years that more than 400,000 new cars have been registered in a single month.
Increases in private registrations are underpinning the industry’s recovery. The growth reflects buyers coming back to the market after a period of postponing their new car purchases. With running costs becoming ever-more important for motorists, cars equipped with more frugal engines are selling in increasing numbers.
Mike Hawes, SMMT chief executive, is confident that the overall growth is sustainable, particularly because the fleet and business sectors are also showing signs of recovery.