14-Plate demand increases new car registrations

March 2014 was the biggest month for new car registrations since March 2004, with demand for the new 14-plate increasing registrations by 13.7% to 464,824 units. 

Mike Hawes, Chief Executive for the Society of Motor Manufacturers and Traders (SMMT) – which provides the data – attributes some of the growth to competitive finance deals and lower running costs. He says “We expect the market to continue to perform positively for the rest of the year, albeit at a more modest rate."

March 2014 was the biggest ever month for alternatively fuelled vehicles like electric cars and hybrids, with 8713 registered. Indeed the Toyota Yaris managed to make it into the March bestsellers list, thanks in part to a hybrid variant being offered.

Aside from the Toyota Yaris appearing in tenth place the bestsellers list is familiar, with the Ford Fiesta in first place, followed by the Ford Focus and Vauxhall Corsa. Mike Hawes, SMMT Chief Executive. "Given the past six years of subdued economic performance across the UK, there is still a substantial margin of pent-up demand that is contributing to a strong new and used car market.