Some good news this week for motor manufacturers as the Society of Motor Traders and Manufacturers revealed a massive rise in the number of cars bought in October. Sales of new vehicles climbed an impressive 12% compared to the same month last year, with forecasters predicting that the total 2012 figure will break through the 2 million mark, beating previous expectations.
New car sales to private buyers were an even more impressive 24% up on a year ago, with many families choosing to “down-size” from bigger cars to smaller, more fuel efficient models that also benefit from lower car insurance quotes
. Top sellers for the month are the Ford Fiesta, Vauxhall Corsa and the Ford Focus, reflecting the increasing popularity of smaller cars.
Encouragingly, sales of cars with genuine “green” credentials increased by almost 40%. Although still low in volume terms – just 2,200 of them were sold – the trend is heading upwards.
Overall, over 151,000 new cars were sold last month, with year to date sales nearing the 1.8 million mark, 5% up on the same period in 2011.
Whilst great news for car manufacturers, the 2012 estimates remain about 16% below the sales peaks seen in pre-recession 2007.
For anyone thinking about buying a new car, remember to check out insurance group ratings as well as fuel efficiency statistics in order to keep the cost of car insurance
as low as possible.
We’d welcome, as ever, your views on new cars, down-sizing and going green.