Fleet and business car registrations have shown further rises as the UK new car market reaches its longest-ever period of growth on record.
Newly released data from the Society of Motor Manufacturers and Traders (SMMT) show that new car registrations increased 7.7% in May to 194,032 units – marking both the most registrations in May since 2004 and the 27th consecutive month of growth for the UK new car market.
Fleet registrations remained strong, with a total of 95,702 units registered last month, up 6.5% on the figure of 89,889 for May 2013. Meanwhile sub-25 “Business registrations” rose 26.8% to 7,619 units from 6,011 in May last year. Private registrations also showed continued growth, with registrations up 7.7%.
Year to date, all sectors showed growth too. For the first five months of the year, fleet registrations rose 9% to 488,129 units from 447,666 for the same period last year. Business registrations were up 20.4% to 48,695 from 40,443. Meanwhile private registrations were up 13.4%. Overall, YtD registrations for 2014 have passed the one million mark, rising 11.6% to 1,058,974 units.
Source: Fleet World
