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It is extremely encouraging to see that the car market continued to perform well in January 2014 following the success of 2013. New car sales figures, released this week, show month on month sales were up 7.6% compared to January last year. Private registrations have risen 17%, with Alternative Fuel Vehicle sales increasing by 25%.
Increased retail demand continued to drive UK sales in the first month in January. Consumer confidence continues to grow as the economy becomes more robust. Retail customers feel secure enough to commit to buying cars often helped by the competitive offers made available by the manufacturer.
Despite the boost in buying confidence consumers continue to monitor their spending and are looking at ways to reduce their household expenditure. This has resulted in a demand for smaller fuel efficient and easy to maintain vehicles.
The NFDA expect the market to continue to perform well and to build on the success of 2013.
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