New car sales – best February for 20 years

The UK new car market has recorded its best February performance for two decades as registrations rose 14.0 per cent to 84,886 units, according to the latest figures from the Society of Motor Manufacturers and Traders.

It was the 19th month of consecutive growth, which has primarily been driven by fleets investing in the latest vehicles. Indeed, fleets and businesses were responsible for the entirety of February’s increase, with registrations up 25.2 per cent and 15.5 per cent respectively. Private uptake continued to struggle, with a -2.6 per cent decline to record a 33.7 per cent market share. February is traditionally volatile as the lowest volume month of the year, with buyers often electing to wait until March and the new number plate.