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“It is extremely positive to see the new car market has now achieved 37 consecutive months of growth – increasing 11.6% % on March 2014” said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, commenting on the SMMT’s new car registration figures.
New car sales figures, released this week show March new car registrations rose 6.8% year to date.
Robinson continued “Consumers confidence has been rising as a result of a recovering economy. Fewer concerns about unemployment and the improvements of household finance due to record low inflation and pay rises all help to encourage consumers to buy new cars.
The March market has been assisted by the new plate change which encourages consumers to replace their existing vehicle. In addition strong manufacturer deals and low cost finance offers are encouraging consumers to buy.
Finance offers such as PCP and service plans are helping to fix and in some cases cut the cost of motoring for drivers.
Neil Addley, Managing Director of Trusted Dealers, added; “With the proliferation of finance offers and the pent up demand from the recession, it looks like we are on course for a record year in both new and used car sales.”