The 2014 car sales success story
- Society of Motor Manufacturers and Traders figues show an 8.7% increase to 166,198 units compared with December 2013
- Car sales hit over 2.4m
Analysis of the 2014 UK car sales figures by David Raistrick, UK Automotive Leader at Deloitte
AT the beginning of 2014, it was clear that we were going to see healthy levels of growth in new vehicle registrations.
However the final numbers of almost 2.5m have surpassed everyone’s expectations, especially given the difficulties experienced in the mainstream European markets.
There is naturally going to come a time when the UK new car market’s record run of comparative monthly growth will come to an end.
Our analysis shows market will plateau in 2015
However, when this point comes, and our analysis suggests it will be 2015 with a plateau having now been reached, it is important that the market reaction is measured.
A levelling off in new registrations should be balanced against the reality that as recently as only three years ago, new cars sales were less than 1.95 million, and the European market has been in free fall over this period.
Equally, there is a finite limit to the numbers of new cars required every year, no matter how buoyant the markets may be. Current levels are hugely positive, and flat sales this coming year, or even a slight reduction, should still be seen as a positive position, and not a tale of woe.
