According to the SMMT the car industry has grown even further in August which is perhaps more impressive than you may think as the month of august is usually one where new car registrations cool of a bit. This year however August had a 9.6% increase, another reason why this is a pretty big deal is that it marked the 43rd month in a row that new car registrations have been on the up.
Many people believe that the reason for this long term rise lies in the fact that finance deals have become a lot more appealing over the last few years, especially amongst younger markets who haven’t saved enough to buy a new car outright. Gone are the days when you would have to settle for the equivalent of second hand Hyundai Getz for your first car. Now you can get yourself a nice Volkswagen or Audi if you get the right finance deal. There is a suspicion that the increase in new car registrations is a little exaggerated as a result of dealers who pre-register cars to help reach targets.