There was relatively small growth of two per cent in new car registrations in the UK throughout April, according to the most recent industry figures.
Data published by the Society of Motor Manufacturers and Traders (SMMT) showed that a total of 189,505 new cars were registered in the UK last month — the largest number of new registrations for the month of April since 2003. This amounted to a gain of two per cent compared to 2015.
With sales of new cars in the UK continuing to grow year-on-year, car dealers may be thinking of adding more stock to their showrooms. If so, it's important that they remember to regularly update their motor trade insurance and road risks insurance to ensure that their changing quotas are completely covered.
The biggest gains were seen in the company fleet and business sectors, which saw the numbers of new car registrations increase by 6.1 per cent and 2.8 per cent respectively. These gains were only brought down by a decrease of 2.5 per cent in the private sector.
The modest growth follows a massive growth in March 2016, when 518,000 new cars were registered in the UK, which was the second largest monthly total ever recorded.
Mike Hawes, the chief executive of the SMMT, said: “After such a strong March, April’s steadier performance was to be anticipated, and is in line with our expectations for the year.
“Consumer confidence remains high as buyers continue to capitalise on attractive finance deals, although this could be affected by political and economic uncertainty in the coming months.”