Car makers are set for a record-breaking year with more than 2.5 million new vehicles purchased so far in 2016 – the first time this figure has been achieved by November in recorded history.
Significant demand for fleet vehicles – accounting for more than half the market – helped the UK car market grow by 2.7 per cent in November with 184,101 vehicles registered on British roads, according to figures from the Society of Motor Manufacturers and Traders (SMMT).
Sales of alternatively-fuelled vehicles grew by a significant 25.1 per cent to 6,663 units – the highest ever achieved. Petrol registrations grew 7.9 per cent to 88,541 vehicles and 88,897 were registered, a fall of -2.9 per cent.
Dealerships will be pleased to hear the positive news for the UK’s car industry. Heading into 2017, you may well be looking to add to your business to capitalise on growing demand. New customer offerings, sales people and expanded premises can all help, but ensure to keep your motor trade insurance updated so your entire business is covered.
Mike Hawes, SMMT chief executive, said: “Our industry continues to make vehicles that are ever safer, more refined, more efficient and more enjoyable to drive – and the latest advanced technology and cutting-edge designs are continuing to attract buyers into showrooms.
“It’s encouraging to see that alternatively-fuelled vehicles, although still a small proportion of the market, have seen strong growth this month achieving a record market share. Long-term government support and incentives are essential if these vehicles are to command a larger market share in the future.”