January proved to be another milestone month for the new auto industry, with 174,564 vehicles registered in the first 31 days of 2017; that's a marked 2.9% increase compared to the same period a year ago, and the highest levels of January registrations since 2005. 174,564 vehicles were registered last month.
The report also found that, diesel registrations were down by more than 4 per cent; however demand for petrol cars increased by almost nine per cent. Fleet and business registrations taken together grew marginally by 1.2%, up from 96,628 registrations in January 2016 to 97,835 last month.
Registrations of alternatively fuelled vehicles grew 19.9% meaning they now account for a record 4.2% market share.
The new van market got off to a positive start in 2017, with January seeing a 1.2% growth in registrations, according to the SMMT.
He said that, following record growth in 2016, he expects to see some cooling in the market over the coming months, "but provided interest rates remain low and the economy stable, the market is in a good position to withstand its short-term challenges".
In spite of the rather modest 1.4% increase in fleet (which includes personal contract hire), data of our own shows personal leasing enquiries at ContractHireAndLeasing were up 36.8% year-on-year.
Registrations of new cars in the United Kingdom rose to a 12-year high in January, led by higher demand from private motorists, figures showed on Monday.
Sue Robinson, National Franchised Dealer Association director, said: "It is extremely encouraging to see that following last year's slowdown, private demand came back strong with a growth of 5.0% in January".
The most significant growth was in the alternative-fuel market, which includes electric and plug-in hybrid vehicles.