Confidence Returns to UK Motor Industry
Figures released by the Society of Motor Manufacturers and Traders has shown that consumer interest in buying new cars has finally risen.
Liverpool, United Kingdom, November 07, 2007 --(PR.com)-- New car registrations this year seem to have bucked a trend at long last. Figures released by the Sociey of Motor Manufacturers and Traders has shown that consumer interest in buying new cars has finally risen, and demand for new cars this year has exceeded expectation, and volumes of new registrations have been the best since 2004.
Car sales to date in 2007 with the new '57' plate, was up two percent, equating to an additional 38,627 cars entering the market.
This is welcome news for many car dealers, whose confidence have been steadily declining over the last few years. 2006 was a particularly difficult year for the motor industry, which was fuelled by rising fuel costs and interest rate rises.
"September has traditionally been the strongest month for registrations after March – and this year it has exceeded expectations with 419,290 new cars motoring out of showrooms," said Christopher Macgowan, SMMT chief executive. "With climate change issues at the forefront of everyone's agenda, it is encouraging to note the rise in uptake of low-carbon vehicles. Motorists are increasingly playing their part in tackling environmental impact and SMMT's annual Sustainability Report, to be launched on 9 October, will highlight the progress the UK automotive manufacturing sector has made over the last eight years."
Demand for new cars has also been apparent from buyer activity on websites that offer buyer-services.
Third-party websites such as Askaprice.com that enable car buyers to compare quotes for new or leased cars are experiencing unprecedented levels of visitor activity.
Chris Haycock, Askaprice.com's Online Marketing Manager, said "Although there are concerns over consumer confidence arising from the banking sector's recent difficulties, it appears that interest in new cars has risen, exceeding the expectations of many analysts in the industry. We exist so that these new car buyers can find the best price for their new vehicle before they purchase, capitalising on some great deals available to them."
The final expected figure for 2007 looks likely to exceed the 2.355mn forecast set in July.
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Car sales to date in 2007 with the new '57' plate, was up two percent, equating to an additional 38,627 cars entering the market.
This is welcome news for many car dealers, whose confidence have been steadily declining over the last few years. 2006 was a particularly difficult year for the motor industry, which was fuelled by rising fuel costs and interest rate rises.
"September has traditionally been the strongest month for registrations after March – and this year it has exceeded expectations with 419,290 new cars motoring out of showrooms," said Christopher Macgowan, SMMT chief executive. "With climate change issues at the forefront of everyone's agenda, it is encouraging to note the rise in uptake of low-carbon vehicles. Motorists are increasingly playing their part in tackling environmental impact and SMMT's annual Sustainability Report, to be launched on 9 October, will highlight the progress the UK automotive manufacturing sector has made over the last eight years."
Demand for new cars has also been apparent from buyer activity on websites that offer buyer-services.
Third-party websites such as Askaprice.com that enable car buyers to compare quotes for new or leased cars are experiencing unprecedented levels of visitor activity.
Chris Haycock, Askaprice.com's Online Marketing Manager, said "Although there are concerns over consumer confidence arising from the banking sector's recent difficulties, it appears that interest in new cars has risen, exceeding the expectations of many analysts in the industry. We exist so that these new car buyers can find the best price for their new vehicle before they purchase, capitalising on some great deals available to them."
The final expected figure for 2007 looks likely to exceed the 2.355mn forecast set in July.
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Contact
Askaprice
Chris Haycock
0870 042 3802
www.askaprice.com
Chris Haycock
0870 042 3802
www.askaprice.com
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