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You can find the current article at its original source at https://www.theguardian.com/business/2016/dec/05/growing-business-fleet-demand-fuels-rise-in-new-car-sales
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| Growing business fleet demand fuels rise in new car sales | |
| (35 minutes later) | |
| New car sales in the UK continued to rise last month as growing demand from businesses made up for falling demand from private buyers. | New car sales in the UK continued to rise last month as growing demand from businesses made up for falling demand from private buyers. |
| A total of 184,101 vehicles were registered in November, a rise of 2.9% from a year earlier, according to the Society of Motor Manufacturers and Traders. So far this year, more than 2.5m new cars were registered – a record for the 11-month period. | A total of 184,101 vehicles were registered in November, a rise of 2.9% from a year earlier, according to the Society of Motor Manufacturers and Traders. So far this year, more than 2.5m new cars were registered – a record for the 11-month period. |
| A 5.1% increase in fleet car registrations fuelled growth as sales to private buyers fell 1.2%, repeating a trend that took hold eight months ago. Demand for hybrid and electric cars rose 25% to 6,663 giving them a record 3.6% of the market. | A 5.1% increase in fleet car registrations fuelled growth as sales to private buyers fell 1.2%, repeating a trend that took hold eight months ago. Demand for hybrid and electric cars rose 25% to 6,663 giving them a record 3.6% of the market. |
| Car sales have been powered by the growing economy and an abundance of cheap finance deals. However, economists have warned that falling sales to private purchasers show consumers are less willing to make big purchases amid economic uncertainty. | Car sales have been powered by the growing economy and an abundance of cheap finance deals. However, economists have warned that falling sales to private purchasers show consumers are less willing to make big purchases amid economic uncertainty. |
| Mike Hawes, SMMT’s chief executive, said buyers were attracted by cars that are safer, more efficient and enjoyable to drive. Hawes said: “The latest advanced technology and cutting-edge designs are continuing to attract buyers into showrooms. It’s encouraging to see that alternatively fuelled vehicles, although still a small proportion of the market, have seen strong growth.” | Mike Hawes, SMMT’s chief executive, said buyers were attracted by cars that are safer, more efficient and enjoyable to drive. Hawes said: “The latest advanced technology and cutting-edge designs are continuing to attract buyers into showrooms. It’s encouraging to see that alternatively fuelled vehicles, although still a small proportion of the market, have seen strong growth.” |
| Many companies are likely to have made decisions about buying fleet cars before the vote for Brexit, which means it could take time before the impact of the referendum can be assessed. Consumer confidence weakened markedly last month as households put off plans to buy big items amid rising inflation and concerns about the economy once Brexit is triggered next year. | Many companies are likely to have made decisions about buying fleet cars before the vote for Brexit, which means it could take time before the impact of the referendum can be assessed. Consumer confidence weakened markedly last month as households put off plans to buy big items amid rising inflation and concerns about the economy once Brexit is triggered next year. |
| Howard Archer, chief European and UK economist at IHS Markit, said: “The car sector will obviously be hoping that business confidence and activity prove resilient in 2017 despite likely mounting uncertainties over Brexit. It looks inevitable that the fundamentals for consumers will progressively and markedly weaken over the coming months.” | Howard Archer, chief European and UK economist at IHS Markit, said: “The car sector will obviously be hoping that business confidence and activity prove resilient in 2017 despite likely mounting uncertainties over Brexit. It looks inevitable that the fundamentals for consumers will progressively and markedly weaken over the coming months.” |