Fleet News

SMMT boosts 2002 registrations' forecast

THE new car market rose 13.1% last month to a best-ever July total of 195,637 units registered. This compares to the July 2001 total of 173,038 units.

The market has recovered vigorously after a disappointing June, which saw new car registrations dip 3.7% year-on-year, ending 20 consecutive months of market growth and blamed on World Cup fever and the Queen's Golden Jubilee celebrations.

Diesel volumes have risen by 48.8% to 350,714 units this year, accounting for 22.7% of the market, up from 16.3% a year ago. Demand rose by 52.7% in July, to take a 24.2% market share, the best since January 1994.

The Ford Focus topped the best sellers' list for the 27th month in a row, with 12,298 registrations.

Christopher Macgowan, Society of Motor Manufacturers and Traders' chief executive, said, 'The new car market has surpassed industry expectations so far this year, and SMMT has revised its year-end forecast. If, as expected, sales hit 2.5 million units it will be another record, coming hot on the heels of last year's best-ever figures.'

The SMMT had forecast new car registrations would reach 2.4 million in 2002.

  • For an analysis of the latest fleet registrations see next week's issue of Fleet News.
  • Leave a comment for your chance to win £20 of John Lewis vouchers.

    Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

    Login to comment

    Comments

    No comments have been made yet.

    Compare costs of your company cars

    Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

    What is your BIK car tax liability?

    The Fleet News car tax calculator lets you work out tax costs for both employer and employee