It seems as though drivers' love for new cars is here to stay as sales in the UK have risen at their fastest pace for a decade, according to the latest figures.<\/p>\n
The Society of Motor Manufacturers and Traders (SMMT) has said that there were more than 464,800 new car registrations during March – a rise of 17.7 per cent from the year before.<\/p>\n
This is the fastest rate of growth for a decade and the second-highest on record since twice-yearly car registrations were introduced in 1999. In the three months to March car sales rose by 13.7 per cent to 688,122, according to the figures from the SMMT.<\/p>\n
However, this may not be as unexpected as you first think. March is typically the busiest month for new car sales, usually accounting for almost a fifth of all car sales annually, but it is the rapid growth that is causing some buzz in the sector.<\/p>\n
March also saw a record level of sales for alternatively-fuelled vehicles, such as the Nissan Leaf, with sales rising by 63.8 per cent compared with a year earlier. Over the period, more than 8,700 models were sold, suggesting that drivers are wanting to benefit from new technology more than ever before.<\/p>\n
Mike Hawes, SMMT chief executive, said the "surprisingly strong level of growth" in sales was a reflection of intensifying consumer confidence.<\/p>\n
"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," he added.<\/p>\n
"We expect the market to continue to perform positively for the rest of the year, albeit at a more modest rate."<\/p>\n
The advantages of driving a new car are well documented, but even in the recovering economic climate, few people have the spare cash that is needed for a deposit on such a model. This is why car leasing has become incredibly popular over the past couple of years, as people are able to get behind the wheel of a brand new car – without having to make the sacrifices necessary to afford one straight from a dealer.<\/p>\n","protected":false},"excerpt":{"rendered":"