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New car and van sales 2015 analysis: can growth be sustained?

421 sales
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January 14, 2015

Car Sales
Can car and van sales be sustained?

 

WELL, we all know what a cracking year it was last year. But the clock has reset: what will 2015 bring?

2014 car & van sales in brief

  • New car and van registrations grew for the 34rd consecutive month in December
  • Cars grew 8.7%
  • Vans grew 26.6%
  • Total car registrations of 2,476,435
  • Total van registrations of 321,686 vans were registered in 2014
  • Fleet registrations rose 8.7%, up to 1,178,416, and together with business sales, were responsible for over 52% of all new registrations.
  • Source: Society of Motor Manufacturers and Traders (SMMT)

What’s the likely shape of the new car and van market in 2015?
So, despite industry predictions of a slow down or even deflation in the new car and van market during 2015, with such a strong end to 2014, the SMMT believes that although demand will weaken after last year’s exceptional figures, growth is still expected.

Mike Hawes, SMMT Chief Executive said:

“For the market as a whole, we expect a more stable 2015 as demand levels off.” A spokesman for the SMMT went on to say “We expect growth in the UK market to be more moderate in 2015, with a two to three percent increase for cars and between two and 4 percent for vans.”

Also commenting on the SMMT figures, the British Vehicle Rental and Leasing Association’s (BVRLA) Chief Executive, Gerry Keaney said:

“We expect to see a further, steady increase in new leasing volumes this year. Demand for vehicle finance continues to grow – particularly from consumers, SMEs and salary sacrifice customers.”

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