The car market has continued its impressive growth, with the latest data showing new car sales were up eight per cent in November.
Figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed that the car market saw its 33rd consecutive month of growth, as registrations for last month hit 172,327 units. This is eight per cent higher than November 2013’s number and brings the total number of registrations for 2014 to 2,310,237, surpassing last year’s 12-month final tally of 2,264,737.
Thriving new car sales are great news for the entire motor trade industry. To ensure they are best placed to capitalise on any upturn in trade, an individual or business that is buying, selling or repairing vehicles should have a robust motor trade insurance policy in place – this will enable them to remain fully protected from a multitude of risks, even as their operations expand.
Mike Hawes, SMMT's chief executive, commented on the latest market results: "Six months after the record was broken for consecutive monthly growth in new car registrations, the market continues to march on.
"Today’s figures are an indication of the continuing economic confidence that is driving the new car market, with business, fleet and private registrations all showing strong rises in the month. We expect a more stable market in 2015."
In terms of popularity by vehicle, the Ford Fiesta topped the November sales chart, shifting 7,660 units. This was followed by the Volkswagen Golf (5,440) and the Vauxhall Corsa (4,832).