New car sales increased again in July with month-on-month sales up 9.3% compared to the same time last year.
The latest figures from the SMMT continue the upward trend seen during recent months, and also revealed a boost to private registrations of 26.4%, according to Sue Robinson, director of the RMI National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK.
“Considering current economic data it is encouraging that sales were up in July. However in light of speculation about the new car market the NFDA feel that some caution should be made viewing the figures," said Robinson.
“The Olympic games may have caused distraction for consumers with the press reporting a drop in retail sales during the first week of August. Therefore in order for the market to remain stable the Government should offer support by reviewing schemes that boost spending.”
SMMT chief executive Paul Everitt said: "SMMT’s full-year forecast is for 1.97 million cars to be registered during 2012 suggesting a slight slowing of demand in the second half of the year. International economic stability remains a concern for vehicle manufacturers and the UK market, but intense competition and new fuel-efficient products are creating great opportunities for motorists."
Highlights of the SMMT data for July 2012
- New car registrations rose 9.3% in July to 143,884 units - the fifth monthly gain in a row and the best of 2012.
- Registrations over the first seven months have risen more than 40,000 units or 3.5% to 1,201,564 units.
- All fuel types showed increased volumes in July, with alternatively-fuelled registrations up 45.9% in the month.
- SMMT has revised up its full year forecast for 2012 to 1.97 million units, compared with 1.94 million in 2011.