UK new car registrations rose 7.89% year-on-year in February, marking 12 consecutive months of growth, according to the Society of Motor Manufacturers and Traders.
66,749 new cars were registered in February 2013, compared to 61,868 in February 2012 which was the last month to record a year-on-year drop in registrations.
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Private retail in particular jumped 28.9% year-on-year, the highest rise since the ending of the Scrappage scheme in 2010. Private retail accounted for 29,282 registrations, or 43.86% of the market in February, while fleet and business fell 4.29% to 37,467 registrations.
Petrol registrations rose 20.45% to 33,588 units while alternatively-fuelled vehicles rose 26.56% to 834 units, both at the expense of diesel motors, falling 2.99% to 32,327 units.
Triskaidekaphobia quiet
Total registrations in February, typically the quietest month of the year ahead of demand for the new registration plate in March, were less than half the volume of those in January.
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By GlobalDataDespite minor nerves over consumers wishing to avoid the ‘unlucky’ 13-plate, many in UK car finance expect March to deliver its regular rise in registrations compared to February.
Brands with deals
Of those brands with targeted finance deals on the table in Q1 2013, Kia, which began a spate of finance offers in the New Year, saw registrations climb 55.04% for the month with 3,890 registrations.
Citroën, which likewise launched multiple finance deals in February, also added 10.71% to sales volume, up to 2,822 units.
Suzuki, which extended its PCP offers and launched 0% APR hire purchase on the Grand Vitara in January, grew 100.34% by registration volume to 1,172 units.
Also up were SsangYong, offering deposit contribution to finance customers through GMAC, added 14 units to its February 2012 total of 51 and Perodua, offering similar price discounts plus 0% finance through Close Motor Finance, recorded 22 registrations in the month, up by a single car.
Other manufacturers with finance deals begun in Q1 – Alfa, Chevrolet, Mazda and Volkswagen – all saw year-on-year losses for February.
richard.brown@timetric.com
