Automotive industry ends 2012 on a high
Britain's automotive industry has received a welcome boost with the news that new car registrations rose 5.3% in 2012 to over two million units, the highest volume since 2008 and the largest percentage increase since 2001.
However, the new car market was still 15% below the 2007, pre-recession, level of 2.4million units.
Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders (SMMT), said the figure was boosted by strong consumer demand "with innovative, fuel efficient cars keeping buyers in showrooms".
Looking ahead to 2013, Everitt anticipated the market would hold firm - a view not entirely shared by David Raistrick, UK manufacturing leader at business advisory firm Deloitte.
He commented: "There is a strong likelihood that 2013 will see a reduction in the number of new cars sold. Artificial stimuli, such as pre-registrations or self-registrations, are not possible on a sustained basis so we expect them to decrease during 2013."
