UK New Car Market Grows

The UK market for new cars saw significant growth in March, a key month due to the registration plate change and the fact that it is at the end of the first quarter.

New registrations were up 5.9% this March to 394,806 registrations of the new 13 number plates. Over the first quarter of 2013 as a whole they were up to 605,198, rising by 7.4% compared to the first quarter of 2012 according to reports from the Society of Motor Manufacturers and Traders.

This March was the 13th consecutive month of growth in new car registrations, and volumes are now the highest they have been since the scrappage incentive scheme supported the market in 2010. According to the SMMT the last 13 months of growth is due to an increase in private registrations, although in March all sales types saw growth.