Tuesday, 4 September 2012

UK buyers to spend £5bn on new cars this month

Around 330,000 new cars are expected to be registered in the UK this month, with buyers spending almost £5bn in the process.

Those are figures just released by the Society of Motor Manufacturers and Traders.
"As always, it's impossible to accurately predict the market, but we expect around 330,000 new cars to be registered during September, with motorists spending in the region of £4.95 billion.

"The industry has worked hard to ensure that there is a fantastic range of products available and with increasing levels of fuel efficiency, safety, comfort and affordability, now is a great time for motorists to buy a new car."

September is a key month for the industry because "a positive performance can set the market on the right track for the remainder of the year".

And a cracking start to the autumn would have wider consequences too, he added. "September's new vehicle registrations will give a good indication of the overall state of the UK economy and consumer confidence.

"Despite continuing economic instability, there are some very good reasons for motorists to take a close look at the new models at their franchised dealers.

"We're seeing buying trends favouring models that boast cutting-edge styling and excellent fuel efficiency, while affordable finance and the reassurance of controlled costs through a scheduled service plan deliver peace of mind."

Earlier this year, the SMMT revised its registrations forecast for 2012 upwards to 1.97m cars.
"The outlook suggests a slight slowing of demand in the second half of the year but still ending ahead of 2011,"

Cars with digital radios, autonomous emergency braking, parking assistance and the latest in smartphone connectivity would be at the top of buyers' wish lists.
Will you be buying a new car this month?

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