Deloitte comments on latest car registration figures from the SMMT
4 December 2014
Commenting on the latest car registration figures from the Society of Motor Manufacturers and Traders, which show an 8.0% increase to 172,327 units compared with November 2013, David Raistrick, UK Automotive Leader at Deloitte said:
“The new car market’s momentum has been maintained, enabling the UK to close in on three years of comparative month on month growth. It has been one of the ongoing success stories of the UK economy and is likely to continue into 2015, supported by investment in UK automotive production, whether for complete vehicles, engines or parts. I am sure many in the industry will be wishing for a strong European recovery during the next 12 months to support an even brighter future.
Behind the numbers
“It is worth reflecting that during the year in which petrol and diesel prices reached highs of £1.31 and £1.36 per litre respectively, there has been growth in the number of alternatively fuelled vehicles being sold, but not necessarily in the numbers that might be anticipated. Hybrid technology has been around for some time now, and yet petrol/electric and diesel/electric vehicles accounted for only 1.4% of all cars sold in the UK up to the end of October. Whilst this represents growth of nearly 27%, the actual increase in hybrid cars sold in the first 10 months of the year (6,794) is dwarfed by the increase in sales of diesel powered vehicles (104,680).
“Whilst there are signs that the market for the alternatively fuelled vehicle is increasing, it is at a relatively slow rate. Fuel prices show a steady downward trend and consumers’ buying decisions are being heavily influenced by a desire for value for money. The price point for the adoption of alternative fuelled vehicles is being driven downwards, as their ever more efficient petrol and diesel relatives show that they can deliver a cost effective ownership experience.
“Looking ahead to 2015, sales of hybrid and pure electric vehicles could continue to increase. With vehicle mileage range rising rapidly, the electric vehicle is going to start to come into its own over the next few years. However, overall UK new vehicle sales for FY15 are unlikely to increase over 2014 levels. This is not a bad outcome, but merely reflects the maturity of the current market, which has some of the highest annual levels of new vehicle sales ever achieved.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
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The information contained in this press release is correct at the time of going to press.
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