kazanherald.com February 24, 2017

January 2017 new auto registrations up 2.9% YOY

08 February 2017, 01:13 | Jacqueline Bates

New car market achieves 12-year high in January - private registrations up 5%

AFV registrations up almost 20% year-on-year

174,564 vehicles were registered last month.

Vehicle manufacturer's trade body, the SMMT have released figures showing that the United Kingdom new auto market in January 2017 was up 2.9% year-on-year.

In what is notoriously one of the quietest months of the year for new auto registrations, it was alternatively fuelled vehicles (AFVs) that made the biggest splash, with demand up 19.9% compared to last year.

Mike Hawes, SMMT chief executive, said: "It's encouraging to see alternatively fuelled vehicles benefiting from this positive growth, reaching a record market share". Fleet and business registrations taken together grew marginally by 1.2%, up from 96,628 registrations in January 2016 to 97,835 last month.

It was private registrations that provided the strongest growth figure of 5%, accounting for 76,729 cars. The SMMT has calculated that Britain leaving the European Union without a negotiated trade deal and instead operating under current WTO tariffs would add £1,500 to the price of an imported vehicle bought in the UK.

According to Society of Motor Manufacturers and Traders' data, the figure represents a 2.9% overall rise on the same month a year ago, while the fleet market grew by 1.4%, to 91,181 units.

Petrol cars were also up strongly, gaining 8.9%, with diesel auto registrations down 4.3%, continuing the fall seen in December, amid suggestions of higher taxes to curb emissions.

"We're talking about a market that is at peak demand, following the sector's resurgence after the recession", he said last month.

The figure represented a 2.2% year-on-year increase in sales.

"A number of factors including the new and more expensive VED tax rates coming into effect in April, low interest rates and attractive finance packages will continue to attract new buyers in the upcoming months".

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