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November figures ‘a significant milestone’ says Close Brothers Motor Finance

Commenting on the SMMT figures for November Chris Bosworth, director of strategy at Close Brothers Motor Finance, said: “[The] new registration figures from the SMMT indicates that the automotive sector is poised to end 2016 with record sales, with transactions for the year surpassing 2.5 million for the first time. This is a significant milestone, and proof that the sector has remained buoyant despite the uncertainty created by the vote for Brexit.

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Related news:

  1. Slight July car registrations increase gives reason to be cautious
  2. Highest-ever September car registrations
  3. UK car market continues to grow in July figures
  4. YTD new car registrations exceed 1 million in May – SMMT
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Highest-ever September car registrations

Figures from the Society of Motor Manufacturers and Traders reveal that the UK new car market remained steady in September, rising 1.6 per cent. 469,696 cars were registered, as buyers purchased the new 66-plate.

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Related news:

  1. Slight July car registrations increase gives reason to be cautious
  2. April new car registrations show a ‘significant decline’ says SMMT
  3. Slower August for UK new car market – registrations drop 6.4 per cent
  4. August car sales up 23 per cent – electric cars account for one in twelve sales
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Slight July car registrations increase gives reason to be cautious

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Figures released by the SMMT show that UK new car registrations experienced a very slight increase in July, up 0.1 per cent for the month, at 178,523 units. 1,599,159 new cars have been registered so far this year, putting demand in the year-to-date 2.8 per cent higher than for the same period in 2015, following a strong first quarter. Fuelled by a possible inflection point in the market – two years of strong car registrations figures have built up a wave of two-three year old used cars that could detract from new car purchases – and the as-yet unseen effects of the Brexit decision, some are advising a note of caution.

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Related news:

  1. 10-year high for April car registrations
  2. Steady growth in May car registrations
  3. Slower August for UK new car market – registrations drop 6.4 per cent
  4. August car sales up 23 per cent – electric cars account for one in twelve sales
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Brexit decision at ‘inflection point’ for car market – Close Brothers Motor Finance

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Following the publication of the SMMT’s UK monthly automotive manufacturing figures for June, Chris Bosworth, director of strategy at Close Brothers Motor Finance, suggests that the current growth spurt may be coming to a close. The extent to which this will be affected by Brexit remains to be seen, Bosworth adds, though it coincides with what he calls an “inflection point” for the UK car market.

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Related news:

  1. UK automotive production drops again as investment dries up
  2. SMMT: 1 in 3 auto sector firms shedding jobs ahead of no-deal Brexit
  3. SMMT calls again for “ambitious” EU trade deal as UK car production drops 16.5% in November
  4. Slight July car registrations increase gives reason to be cautious
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