recovery in the new car sales market is often a good indicator of consumer confidence
(PRWEB UK) 9 October 2012
Popular car insurance comparison site Tiger.co.uk has taken a look at the data in more detail, there were 359,612 “62” plate cars registered last month,an 8.2% increase on comparable 2011 sales. This news means that since this time last year the new car market has enjoyed quarter-on-quarter growth and car registrations have increased every month in 2012 bar one. New car sales currently account for 45 per cent of the private car sales market.
This is a good sign that consumer confidence is increasing, although it is still a very tough market for vehicle manufacturers. Purchases have been boosted by enticing offers such as twelve months free car insurance, free breakdown cover and attractive new models that offer significant fuel efficiency gains to UK drivers.
According to the SMMT, consumer focus is on smaller cars and fuel efficient models. The best-selling car in September was the Ford Fiesta, followed by the Vauxhall Corsa. Emerging technologies have been effective at reducing fuel consumption; year to date, the average new car emits 133.4g/km of carbon dioxide which is down 3.4% on the same period in 2011.
Andrew Goulborn, Commercial Director for Tiger.co.uk commented: “This is certainly encouraging news as recovery in the new car sales market is often a good indicator of consumer confidence. However the economic outlook in the UK still remains challenging and motorists in particular have been feeling the pinch. As evidenced in our monthly car insurance price monitor, Tiger Watch, car insurance prices are gradually moving back to where they were two years ago, but drivers are also having to put up with price increases in petrol and diesel which is driving the interest in more fuel efficient models. We are hopeful that this upward trend continues and that more fuel efficient technologies continue to be developed by motor manufacturers”.
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent motor insurance comparison site, offering insurance quotes from over 150 insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).