64-plate leads to decade high car registration
By Kyle Lindsay
Thursday, October 9, 2014 - 15:30
March and September way in front
425,861 new cars registered in the key month of September, a rise of 5.6% and the biggest September since 2004.
September and March have both prove to be peak times for plate change, with the months registrations accounting for a third of the year’s. March itself accounted for an 18% surge whereas September’s more moderate growth indicates demand starting to level off.
Mike Hawes, SMMT Chief Executive, said: “September’s strong performance underlined the continuing robustness of the UK new car market, particularly in the context of last September’s bumper volumes. Demand for the new 64-plate has been boosted by intensifying confidence in the UK economy, with consumers attracted by a wide range of exciting, increasingly fuel-efficient, new cars.”
The automotive industry is a vital part of the UK economy accounting for more than £64 billion turnover and £12 billion value added. With more than 160,000 people employed directly in manufacturing and in excess of 770,000 across the wider automotive industry, it accounts for 10% of total UK export of goods and invests £1.9 billion each year in automotive R&D. More than 30 manufacturers build in excess of 70 models of vehicle in the UK supported by around 2,500 component providers and some of the world’s most skilled engineers.