Close Brothers Motor Finance says that new car registrations reached their highest level this century during March, because of attractive finance packages and low interest rates.
According to Society of Motor Manufacturers and Traders (SMMT) figures , March was the 37th month of consecutive growth for new car registrations, making it the longest ever period of growth for the UK car market.
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Commenting on the figures, James Broadhead, chief executive officer of Close Brothers Motor Finance said: "The UK car market has gone from strength to strength in recent months. We have noticed a marked improvement in consumer confidence, which coupled with attractive financial products underpinned by low interest rates and good access to credit is helping to stimulate demand in both the new and used car markets.
"Of course, there are other factors at play such as manufacturer innovations, safety advances, new technologies and improved fuel efficiency. Customers are still very price sensitive so flexible finance packages are helping to encourage people to change their cars.
"With the general election only a few weeks away, the challenge for the new government will be to keep the momentum going and continue to drive investment and growth in the UK motor industry."
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