Fuel efficiency demand shoots up car sales
20 consecutive months of growth in car sales have been recorded in October, as buyers have been increasingly looking for greater fuel efficiency.
The Society of Motor Manufacturers and Traders (SMMT) said it had noticed a change in the pattern of models being purchased by the customers. Smaller vehicles such as the Ford Fiesta is gaining popularity and has remained the best-seller in the UK in the year to date with almost 105,000 models sold. This number is a clean sweep as compared to the Focus and Vauxhall Corsa.
SMMT also believed that it was now expecting registrations during 2013 to reach a six-year high after 157,314 new cars were sold last month .
However situations are still not so perky. Rise in sales experienced in September are still considered better at 12.1 per cent which came down in October.
With the private sector also could not keep up with the 19.9 per cent year-on-year increase seen in September. With inflation rates pinching on household finances, the automotive industry is not celebrating just yet.
Looking at the brighter side, SMMT chief executive Mike Hawes said:"These sustained rises have been driven by robust private demand, a trend that has given us the confidence to raise our year-end forecast.
"Looking ahead, we anticipate more moderate growth as the market stabilises."
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