UK car sales hits all-time high

Official data has revealed that new car sales in the UK reached an all-time high last year, capping four years of consecutive growth.

Data from the Society of Motor Manufacturers and Traders (SMMT) has shown that new car registrations exceeded 2.6 million units for the first time, which was greatly helped by the greatest ever December in terms of registrations.

The final month of 2015 saw 180,077 new cars registered, which is an increase of 8.4 per cent.

New cars lined up, causing people to ask how much is my car worth

Overall, the market increased by 6.3 per cent in 2015, with 2,633,503 units, which exceeded the forecast and surpassed the previous record year of 2003, when 2,579,050 new cars were sold.

The demand for UK fleets reached an all-time high, increasing by 11.8 per cent on the previous year. The private sector also enjoyed some growth, increase by 2.5 per cent on 2014.

Gains on all fuel types were reported, with registrations on petrol and diesel increasing by 8.4 per cent and 3 per cent respectively. The demand for alternatively fuelled vehicles (AFV) grew by an incredible 40.3 per cent, plug-in hybrids more than doubled, and pure electric vehicles increased by 50 per cent.

Mikes Hawes, Chief Executive of SMMT praised attractive finance deals and low inflation for the uptake in a lot of sectors. Speaking about the figures, he said “The past four years have seen a remarkable period of sustained growth, and the outlook remains positive with every reason to expect the market to hold broadly steady in 2016.”

With 2015 being only the fourth time that the market has surpassed 2.5 million new vehicle sales in a full year, it will be extremely interesting to see if 2016 can follow in the same vein.

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