8.6.2012 SMMT reports motor industry growth
The Society of Motor Manufacturers and Traders (SMMT) has announced that alternatively fuelled vehicle sales rose by 31.8% to 2,108 units in May compared to May 2011, and private vehicle sales were up 14.3% in the same month.
Based on a 'year-to-date' comparison, alternatively fuelled vehicles were up 7.0%, private sales were up 8.5% whilst fleet sales remained unchanged, and the total units sold overall were up by 2.6% to 868,166.
Paul Everitt, SMMT's Chief Executive said that these changes were, "good news for the motor industry and the UK economy, particularly the steady growth in demand from private buyers." He continued, "There is no doubt that vehicle manufacturers and their dealer networks are working hard to deliver value for money to motorists and the consistent climb in new car registrations during the first five months of the year suggests that confidence is returning, despite financial uncertainty in the eurozone."
The May market was more than 6% and 9,000 units above SMMT's forecast for the month. As several new models can to the market, the boost in alternatively fuelled vehicles in May of 31.8% growth was a particularly pleasing sign. In the first five months of 2012, alternatively fuelled vehicles were recorded as having a 1.4% total market share, up 0.1% from the same period in 2011.
New models on the market also helped the supermini segment grow by 85.8% in May alone, representing the growing demand for smaller cars with lower running costs. Many mainstream manufacturers are beginning to concentrate on smaller vehicle segments, due to the apparent increase in demand for vehicles that offer more affordable all-round motoring.
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