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05/12/2003
Record car sales in 2003 despite November dip
Surprise figures announced by the Society of Motor Manufacturers have revealed that new car registrations in 2003 are expected to break previous UK records and reach 2,565 million.
Despite a dip in November when the new car market slipped 1.5%, the estimates for the year remain 165,000 up on the initial January forecasts, which had predicted a 6% drop from the 2002 figures - it looks as though 2003 will be the highest ever on record.
Mainly driven by the private sector where registrations rose for the sixth successive month - up 2.1% - new registrations to the end of November reached 2,563,631, up from 2,458,769 in the corresponding period in 2002.
In November, diesel powered vehicles gained their highest popularity yet. Almost one third (31%) of new registrations were diesel powered, which was up from 27% in November 2002 and 21.9% in November 2001. Overall the market share of diesel vehicles is expected to reach a record high of 27%.
Analysts expect the full-year private registrations figures, at around 1.25 million units, to be at their highest level since 1990.
SMMT Chief Executive Christopher Macgowan said: "At the beginning of 2003, the industry expected new car registrations to cool, forecasting a six per cent dip on 2002's total. However, a truly amazing market throughout the year has exceeded all expectations and the year is now firmly on course towards its third successive record total."
He said that although sales had cooled over the last couple of months, the range of new models, good deals and strong consumer spending had "sustained growth in the market".
The figures compiled by the SMMT include registration figures for Great Britain, Northern Ireland, the Isle of Man and the Channel Islands.
(SP)
Despite a dip in November when the new car market slipped 1.5%, the estimates for the year remain 165,000 up on the initial January forecasts, which had predicted a 6% drop from the 2002 figures - it looks as though 2003 will be the highest ever on record.
Mainly driven by the private sector where registrations rose for the sixth successive month - up 2.1% - new registrations to the end of November reached 2,563,631, up from 2,458,769 in the corresponding period in 2002.
In November, diesel powered vehicles gained their highest popularity yet. Almost one third (31%) of new registrations were diesel powered, which was up from 27% in November 2002 and 21.9% in November 2001. Overall the market share of diesel vehicles is expected to reach a record high of 27%.
Analysts expect the full-year private registrations figures, at around 1.25 million units, to be at their highest level since 1990.
SMMT Chief Executive Christopher Macgowan said: "At the beginning of 2003, the industry expected new car registrations to cool, forecasting a six per cent dip on 2002's total. However, a truly amazing market throughout the year has exceeded all expectations and the year is now firmly on course towards its third successive record total."
He said that although sales had cooled over the last couple of months, the range of new models, good deals and strong consumer spending had "sustained growth in the market".
The figures compiled by the SMMT include registration figures for Great Britain, Northern Ireland, the Isle of Man and the Channel Islands.
(SP)
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