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MARCH hits all-time high for new car registration market

Author: Select Car Leasing     Date: 10-04-2017

The full details have been released as new car registrations hit the UK market as the highest ever and March becomes the biggest ever month for the automotive sector – with over 562,337 new cars registered.

March new car registrations

Based on SMMT details, March became the biggest month ever and grew with a 8.4% market rise with total 562,337 new cars registered itself. One of the biggest reasons for this could be the new VED changes update which came into force from the 1st of April –meaning people could save thousands of pounds extra by leasing or buying their next car.

March new car registrations 2017

(IMG Source - SMMT)

And if you’re not aware then from 1st April; all the new cars except for those with zero emissions are subject to an annual flat rate charge which you can get more information from on our VED change page here.

The March month showed a double in the number of registered vehicles in the first two months of the year combined. That means, by the end of the first quarter(Q1) – there are a total 820,716 cars registered, a full 6.2% higher compared to last year.

March 2017 fuel market share

(IMG Source - SMMT)

As always, fleets and businesses were one of the big contributors to the automotive growing market in March, with registrations up 12.6% and 11.9% respectively. Private buyers also increased by 4.4% compared to the previous month.

March 217 - electric hybrid stats

(IMG Source - SMMT)

Following the recent trend of low emission technology, more people are increasingly investing in environmentally friendly cars. There was growth for these cars by 31% in new car registration compared to alternatively fuelled vehicles. Petrol car buyer figures have also risen by 13.2% while diesel cars demand also increased compared to previous year.

Best selling cars of 2017 so far...

March 2017 best selling cars

(IMG Source - SMMT)

The Ford Fiesta is again the bestselling car of the year so far and there were a total 25,428 cars registered in March. The Nissan Qashqai is also showing good numbers in the list as well as Ford’s Kuga which features on the list with a total of 9,561 registered in March.

van reg details march 2017

Demand for pick-ups continues its upward trend in March and was also up 23%. Nearly 12,000 have been registered so far in 2017. 

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 8746 74. ICO Registration ZA076253. Company Number 065690988. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA) No 1846.

 


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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker and not a lender. VAT Registration No 181 874674. ICO Registration ZA076253. Company Number 06569098. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA), No 1846. Registered address: Atlantic House, Imperial Way, Reading, Berkshire, RG2 0TD

© Copyright 2018 Select Contracts UK Limited. All Rights Reserved.

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