Sales of “62” registration plate vehicles in September 2012 exceeded expectations. According to numbers published by the Society of Motor Manufacturers and Traders (SMMT) there were 26,000 more cars registered than had been forecast, which is 27,000 more than the same time last year. Popular car insurance comparison
site Tiger.co.uk has taken a look at the data in a little more detail.
There were 359,612 “62” plate cars registered in September, an 8.2% increase on comparable sales in 2011. This means that since the same time last year, the new car market has enjoyed quarter-on-quarter growth, and new car registrations have grown every month in 2012 with the exception of only one. New car sales currently account for 45 per cent of the private car sales market.
This is an encouraging sign that consumer confidence is increasing, although it is still a very tough market for vehicle manufacturers and sellers. New car purchases have been boosted by enticing offers such as free breakdown cover, twelve months free car insurance
and attractive new models that are able to offer significant fuel efficiency gains to UK drivers.
According to the SMMT, the focus for consumers is smaller cars and fuel efficient models with the best-selling car in September being the Ford Fiesta. Year to date, the average new car emits 133.4g/km of carbon dioxide which is down 3.4% on the same period in 2011.
Andrew Goulborn, Commercial Director for Tiger.co.uk commented: “This certainly is encouraging news as recovery in the new car sales market is often an indication of consumer confidence. The economic outlook in the UK still remains challenging though and drivers in particular have been feeling the pinch. As evidenced in our monthly car insurance
price monitor Tiger Watch, motor insurance prices are gradually moving back to where they were two years ago, but drivers are also having to put up with price increases in petrol and diesel which is driving the interest in more fuel efficient models. We are hopeful that this upward trend continues and that more fuel efficient technologies continue to be developed by the car manufacturers”.