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UK car sales saw a massive rise in 2016

5th Jan 17 11:29 am

Will the growth in car sales continue?

In 2016 the number of cars sold hit a new high.

The Society of Motor Manufacturers and Traders (SMMT), has said a huge 2.69m cars were registered last year. This shows a two per cent increase than in 2015.

The growth is due to a “very strong” consumer confidence with low interest deals and the launch of many new models.

The SMMT have said this year is unlikely to see another new record, sales are expected to fall by five to six per cent.

The SMMT also added the UK new car market is one of the most diverse in the world as it brings 44 brands which offer nearly 400 different model types.

The top selling model was the Ford Fiesta, closely followed by the Vauxhall Corsa and Ford Focus.

Diesal and petrol cars have continued to be the most popular fuel types, with a market share of 47.7 per cent and 49.0 per cent.

However, plug in hybrids and petrol electric hybrids also saw a growth. Demand was up 41.9 per cent and 25.1 per cent.

Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”

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