Fleet new car registrations have recovered market share in April as a return in business confidence helped the market grow 13% over the month to just under 85,000 vehicles, according to the Society of Motor Manufacturers and Traders (SMMT).
The number of new cars sold in the UK continued to climb in April as the motor industry experienced growth of 8.2% over the month with total registrations climbing to 176,820.
Go deeper with GlobalData
Fleet registrations accounted for 48% of the market, overtaking private sales during the month.
For the year to the end of April, fleet sales still lag behind private sales after a slow start to the year, and fleet market share has decreased from 46.6% in 2013 to 45.3% despite an increase in fleet registrations of 9.6% year-on-year to 392,037.
April now marks the 26th consecutive month of growth in the new car market and in the four months to the end of April registrations have risen 12.5%, exceeding the SMMT’s original January estimate for 2014.
The figures also revealed that demand for trucks was subdued, with year-to-date sales down 24.8% compared to first quarter 2013, to 10,292 registrations. Similarly, truck sales fell 24.9% year-on-year in April, to 2,718.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataYear-to-date, Van registrations were up 12.2% to 100,537. However in April, van registrations slipped 0.6% year-on-year to 20,620.
The SMMT have now revised up their estimate for the total sales for 2014 from 2.3 million vehicles to 2.4 million.
