Analysis
UK new car registrations grew in January, with an 11.5% rise to 143,643 units, compared to January 2012.
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This was the third month of double-digit growth in the past four months and the 11th successive monthly rise. Growth in 2012 followed a 12.9% rise in private demand.
Growth was again concentrated in the private market, although all sales types increased registrations in January.
A challenging economic backdrop suggests market-specific factors are helping to drive demand, such as delayed purchases being tempted by deals and offers.
SMMT revised upwards its full-year forecasts for 2013 and 2014, after better-than-expected growth in 2012. The market is expected to rise by 0.6% to 2.057 million units in 2013 and by 2.6% to 2.11 million units in 2014.
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