New car market as registrations grew 6.7% in January to 164,856 units – the strongest January since 2007 and the 35th consecutive month of rises.
Growth in company car registrations was particularly strong, up 18.1% on January 2014, and 4,598 alternatively-fuelled vehicles registered in January, up 60.8% on last year’s figure of 2,859.
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), said, “These figures mark an encouraging start to the year after a very strong 2014, with a strikingly robust company car market as businesses take advantage of the attractive finance offers currently available.
“January saw increased uptake of both petrol and diesel cars, while demand for alternatively-fuelled vehicles continued its surge with registrations rising by 60.8%. Registrations of plug-in vehicles were particularly strong as consumers responded to a greater choice of makes and models delivering lower running costs.
“Last year’s 9.3% rise in the overall market was fuelled by stronger than expected economic confidence and, for 2015, we expect to see some levelling off throughout the year: demand is back to pre-recession levels following record-breaking growth.”