By Jamie White – Head of Communications
On the day UK voters head to the polls, new figures released by the Society of Motor Manufacturers and Traders (SMMT), have underlined a robust new car market, with registrations up for the 38th consecutive month in April.
Demand rose by 5.1% to 185,778 units – the month’s best performance since 2005. Year-to-date registrations for 2015 are up 6.4% to 920,366.
April’s strong performance, which comes after a record first quarter for the sector, tracks a 12-year high for consumer confidence1 and continues a pattern of growth in new car registrations around general elections that dates back to 1979.
Demand is forecast to continue in line with this trend and as new products, attractive finance deals and low interest rates inspire consumers and businesses to give the new car market their vote of confidence.
Six of the past nine general elections have coincided with a spike in new car demand in the three months immediately before and after polling day.
Mike Hawes, SMMT Chief Executive, said: “Today’s figures highlight the current strength of consumer confidence, even at a time of such political uncertainty.
“We are confident that the UK’s new car market – so symbolic of economic mood – will continue to thrive, but long-term success will depend largely on economic and political stability in the months and years ahead.”
