Fleet Buys Drive UK Automotive Market in 2013
The UK automotive market ended on a high note in 2013, driven in large part by fleet and business sales.
According to figures released by the Society of Motor Manufacturers and Traders (SMMT), new car sales in 2013 were the best since 2007, exceeding 2.26 million car registrations, a 10-percent climb on 2012 and exceeding the SMMT's projections.
The British Vehicle Rental and Leasing Association (BVRLA) welcomed this growth as a sign that the UK economy is growing and consumer and business confidence is rising.
"Fleet and business sales were responsible for more than 50% of new car registrations, which demonstrates the vital role road transport plays in driving the UK economy,” said BVRLA Chieve Executive Gerry Keaney.
The SMMT expects this growth to stabilize in 2014 with a growth rate of about 1 percent.
“Hopefully this growth will be well balanced. It is vital that vehicle manufacturers take a disciplined approach to self-registrations,” Keaney added.