September saw further growth in car market

September saw further growth in car market

September marked the motor trade industry’s 31st consecutive month of growth as the new 64-plates became available.

425,861 new cars registrations were counted in September, according to figures released by the Society of Motor Manufacturers & Traders (SMMT). While these figures show a decrease in growth – from 9.4 per cent in August to 5.6 per cent in September – it is the 31st consecutive month to see an increase in sales.

As dealerships benefit from the growth in the motor trade sector, they must continue to consider the implications of a growing business. Maintaining an up-to-date motor trade insurance policy is vital – whether it is accounting for new staff to handle sales or expanding vehicle numbers on site. Indeed, a combined insurance policy that covers all of these factors is desirable.

The figures bring the total car registrations to 1,958,196 so far this year, a 9.1 per cent increase on the first nine months of last year.

SMMT chief executive Mike Hawes said: “September’s strong performance underlined the continuing robustness of the UK new car market, particularly in the context of last September’s bumper volumes.

“Demand for the new 64-plate has been boosted by intensifying confidence in the UK economy, with consumers attracted by a wide range of exciting, increasingly fuel-efficient new cars.”