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| UK new car sales highest since 2007, SMMT to say | |
| (35 minutes later) | |
| UK car sales in 2013 recorded their best year since 2007, figures are set to show, helped by cheap credit deals and stronger consumer confidence. | UK car sales in 2013 recorded their best year since 2007, figures are set to show, helped by cheap credit deals and stronger consumer confidence. |
| The Society of Motor Manufacturers and Traders (SMMT) is expected to confirm later on Tuesday that 2.26 million vehicles were registered in 2013. | The Society of Motor Manufacturers and Traders (SMMT) is expected to confirm later on Tuesday that 2.26 million vehicles were registered in 2013. |
| That would be a 10.5% rise on 2012, but 6% lower than 2007's 2.4 million figure | That would be a 10.5% rise on 2012, but 6% lower than 2007's 2.4 million figure |
| It would mean that the UK overtook France to become Europe's second biggest car market, after Germany. | It would mean that the UK overtook France to become Europe's second biggest car market, after Germany. |
| Industry analysts say that attractive financing deals have tempted buyers, with three-quarters of sales to private buyers now involving some kind of financing package. | Industry analysts say that attractive financing deals have tempted buyers, with three-quarters of sales to private buyers now involving some kind of financing package. |
| Analysts have also pointed to refunds from mis-sold payment protection insurance policies helping to drive sales. Average payouts have been about £3,000. | Analysts have also pointed to refunds from mis-sold payment protection insurance policies helping to drive sales. Average payouts have been about £3,000. |
| The UK figures contrast sharply with the rest of Europe, where sales have tumbled in recent years. | The UK figures contrast sharply with the rest of Europe, where sales have tumbled in recent years. |
| According to the European Automobile Manufacturers' Association, figures for the 11 months to November show that sales across the region fell 2.8% to 11.4 million cars, putting it on track for a sixth straight annual decline. | According to the European Automobile Manufacturers' Association, figures for the 11 months to November show that sales across the region fell 2.8% to 11.4 million cars, putting it on track for a sixth straight annual decline. |
| Full-year sales in 2012 fell 7.8% from the year before to 12.5 million vehicles. | Full-year sales in 2012 fell 7.8% from the year before to 12.5 million vehicles. |
| British built | British built |
| The SMMT figures are expected to confirm that Ford was the UK's top-selling brand last year, enjoying success with its Fiesta supermini and mid-sized Focus models, followed by General Motors' Vauxhall Corsa and Astra models. | The SMMT figures are expected to confirm that Ford was the UK's top-selling brand last year, enjoying success with its Fiesta supermini and mid-sized Focus models, followed by General Motors' Vauxhall Corsa and Astra models. |
| The SMMT is also likely to show that one-in-seven, or 300,000, of the cars bought last year were built in the UK. | The SMMT is also likely to show that one-in-seven, or 300,000, of the cars bought last year were built in the UK. |
| Most cars built in the UK are exported. | Most cars built in the UK are exported. |
| Last month, the SMMT said that car production in 2013 was likely to be at a six-year high with more than more than 1.5 million vehicles built. | Last month, the SMMT said that car production in 2013 was likely to be at a six-year high with more than more than 1.5 million vehicles built. |
| Growth was driven by the rollout of new models, including the third-generation Mini, the SMMT said. | Growth was driven by the rollout of new models, including the third-generation Mini, the SMMT said. |
| Thousands of new jobs were created in the industry as both Jaguar Land Rover and Bentley expanded their operations in the UK. | Thousands of new jobs were created in the industry as both Jaguar Land Rover and Bentley expanded their operations in the UK. |