British car sales up almost 7% in January image

The United Kingdom saw new car registrations soaring 6.7 percent last month for the best level in any January since 2007, but industry experts and analysts remained cautious as they believe deliveries might vain off during the next months.

According to a statement coming from the Society of Motor Manufacturers and Traders (SMMT), January deliveries jumped from 154,562 units last year to 164,856 autos in January. “For 2015, we expect to see some leveling off throughout the year. Demand is back to pre-recession levels following record-breaking growth,” commented Mike Hawes, SMMT chief executive officer. The United Kingdom is today the region’s second largest single market behind Germany, with sales last year soaring almost 10 percent for their best performance during the past ten years, according to a SMMT statement issued last month. Analysts believe that continued availability of attractive finance options from carmakers and increased consumer confidence have been the main driver for the UK auto market.

John Leech, KPMG’s UK Head of Automotive commented that in his opinion the market should remain just as strong, exceeding forecasted growth figures – especially since the weaker euro is a boon for automakers, able to keep model prices at lower figures. Western Europe registrations last month jumped from 897,008 cars in 2014 to 960,531 units, according to consulting firm LMC Automotive, gathering pace with a 7.1 percent growth. Especially southern markets drove demand – with Spain and Portugal both up 28 percent and Greece jumping an estimated 42 percent. Italy also grew by 11%, while France was up 5.9 percent and Germany just 2.6 percent.

Via Automotive News Europe