New car registrations hit 16 year high in March

New car registrations in the UK continue to rise, with March 2015 figures the best in 16 years, with almost 500,000 cars registered last month.

Every month we say that new car registrations really can’t continue to rise. But they do.

The Society of Motor Manufacturers and Traders (SMMT) reports that total new car registrations for March 2015 were 492,774, a figure that’s six per cent up on the March 2014, and the highest monthly figure since 1999 when the UK moved to two number plate changes a year.

The biggest part of the rise comes from the fleet sector – which must say something about business confidence – although personal registrations continue to hold up.

Unsurprisingly, the top seller for March 2015 was the Ford Fiesta (27,034) followed by the Vauxhall Corsa (19,391) and Ford Focus (15,442) – the same top three we’ve had for some time.

Mike Hawes, SMMT boss, said:

The best month this century for new car registrations is a welcome boost for the UK’s thriving automotive sector. The challenge for a new government and industry will be to maintain this momentum and to strengthen Britain’s manufacturing capabilities through continued investment, innovation and policies which maintain our global competitiveness.
Whatever the general election result, the new government must keep up the commitment to the sector which is delivering at home and abroad.

The SMMT also managed to pitch in on their press release about Britain’s membership of the EU being vital to the UK motoring industry, which seems to be an unnecessary bias with a General Election looming.

And let’s be serious, even if we negotiated our way out of the EU, would there be trade barriers between the UK and the rest of Europe? No, of course not – Europe needs to trade with the UK as much as the other way round.

Still, politics apart, it’s a big ongoing vote of confidence in the economy, and the car business, that new cars continue to be registered in such big numbers.