The new car market has bounced back following the first dip in sales witnessed during October 2015. November new car registrations returned with a rise of 8% in the month, and 2% compared to the same period last year.
It’s been a funny old few weeks and months of late. A quietness has crept into most forecourts it seems with lower new and used car sales. It’s generally been a quiet period in the UK used car market, but fear not! We all know this time of year can be difficult in the used car trade, however we’re already seeing a turn in the right direction with a rise in sales over November of 178,876 cars, including a 6% rise in alternatively fueled cars bolstering the trend! A total of 2,453,426 cars have been sold in 2015 at the start of December which is a slight, yet always encouraging increase! (Some good old fashioned british optimism there).
Mike Hawes, SMMT Chief Executive, said, “November’s figures come as a reminder of the strength of the UK car market, as low interest rates and competitive finance deals continue to attract consumers to new car ownership. We have been expecting a levelling-off in demand for some time now – a development that is being realised following an unprecedented three-and-a-half years of non-stop growth.”
Thank you for reading this November new car registrations post on the WAS Blog!