The UK’s new car market grew by 9.3 per cent July, according to sales figures issued by the Society of Motor Manufacturers and Traders (SMMT).
The 143,884 sales figure for the month is the best sales result this year and represents the fifth monthly gain. Last year, sales in the same month totalled 131,634, following the industry’s 13th consecutive monthly decline in volumes.
This year, new car sales in the first seven months are up by 3.5 per cent to 1,201,564 units compared with 2011. With the buoyant market, the SMMT has revised its 2012 sales forecast from 1.94m to 1.97m.
"New car registrations rose 9.3 per cent in July, continuing the upward trend seen during recent months. The SMMT’s full-year forecast is for 1.97 million cars to be registered during 2012, suggesting a slight slowing of demand in the second half of the year," according to SMMT chief executive Paul Everitt.
"International economic stability remains a concern for vehicle manufacturers and the UK market, but intense competition and new fuel-efficient products are creating great opportunities for motorists," said Everitt.