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UK new car registrations rise 3.2 percent in July


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UK new car registrations rise 3.2 percent in July

According to the Society of Motor Manufacturers and Traders, there were 178,420 new cars registered in July this year, which represents a healthy 3.2 per cent increase against the same period in 2014.

In 2015 to date, total new car registrations are also up by 6.5 per cent to 1,555,309 units. July has become the 41st consecutive month of growth, in the UK new car market and the biggest volume increases were seen in Supermini and SUV segments.

Added to this, new economic confidence, appealing finance deals and low interest rates have all helped towards a significant growth of the UK’s new car market. In fact, the new car registration figures from first half of 2015 represented an all-time high in the markeplace. The more modest increase in July suggests that growth continues but in the second half of the year demand will be more steady.

The most popular type of vehicle sales in 2015 so far have been smaller cars where people are effectively downsizing and ‘dual purpose’ vehicles such as SUVs and crossovers (which are designed to carry both passengers and goods). The first segment has grown 22.7% and the latter by 88.5% since 2005.

Mike Hawes, SMMT Chief Executive, said: “While more moderate than in recent months, July’s rise in new car registrations is good news, and indicative of what we expect for the remainder of 2015. With demand having reached a record high in the first half of the year, we anticipate more stable growth in the coming months.”

Sell Your Jamjar, the UK’s first online car buying service, has been a member of the SMMT since 2014. The Society of Motor Manufacturers and Traders (SMMT) supports and promotes the interests of the UK automotive industry at home and abroad.

Working closely with member companies, SMMT acts as the voice of the motor industry, promoting its position to government, stakeholders and the media.

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