New car registrations rose by 2.5 per cent according to the Society of Motor Manufacturers and Traders today.
The SMMT reported in its updated monthly figures that 203,585 vehicles were registered in May. New car registrations had risen by 2 per cent in April.
However, the modest growth in May reflects the ongoing uncertainty about Britain's place in the European Union ahead of the referendum later this month.
The SMMT, an organisation that supports and promote the interests of the UK automotive industry at home and abroad, who count Sell Your Jamjar as its members, revealed that the increase in new car registrations was driven by fleet buyers with demand up by 8.8 per cent.
Private customers had fallen by just 0.3 per cent but the business segment had fallen by more than 20 per cent.
SMMT chief executive Mike Hawes said: "The new car market in May remained high but the low growth is further evidence of the market cooling in the face of concerns around economic and political stability.
"Whether this is the result of some buyers holding off until the current uncertainty is resolved or a sign of a more stable market for new cars remains to be seen."
Posted : 2016-06-08
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