Figures by the SMMT reveal October 2014 has seen a surge in new car sales with 179,714 units sold, and 172,327 sold in November. This has pushed the new car sales for the year beyond the two million mark! The last time we hit this milestone was back in 2007, just before the downturn where over 2.4 million new cars were sold.
What is more impressive, is that this 14.2% surge in new car sales in October and 8.0% in November, mean this is the 33rd consecutive month of growth.
This month and indeed this year has also seen an enthusiastic demand for alternatively-fuelled vehicles, with the market up more than 50% in both month and year-to-date.
Mike Hawes, SMMT Chief Executive said,
“The October new car market outperformed expectations, with registrations showing the strongest growth in a month since March’s 18% rise. With economic confidence still rising, customers continue to benefit from attractive financial packages on exciting new models.”
“We still expect the overall market to level off as we head towards 2015, but the exception to that rule will be alternatively-fuelled vehicles, demand for which will continue to accelerate.”
Thank you for reading this post on October 2014 New Car Sales. Header image credit Buzrael on Flickr.