The introduction of the new 54-number plate identifier is expected to generate around £5.7 billion worth of business in September, with 440,000 new cars registered this month.
Since the industry moved to a twice yearly plate change, September has typically taken the lion’s share of annual registrations accounting for 17.7% of the total market. However, a March market of 466,955 units means that September is likely to take silver this year.
Christopher Macgowan, Society of Motor Manufacturers and Traders chief executive, said: ‘Despite recent increases in interest rates the UK economy continues to support a healthy new car market.
‘The breadth of new models and competitive prices mean that there is a new car to suit every taste and budget.
‘The market is neck-and-neck with last year’s record total and with four months to go, it’s probably too close to call.’
Car sales hit an all-time record in 2003, reaching 2,579,050, while fleet sales topped one million for the seventh year running.
Fleet NewsNet will reveal how the September registrations bonanza has gone in a special report to be published early in October.
March and September new car registrations
Year | March | September | ||
1999 | 370,060 | 386,999 | ||
2000 | 401,972 | 353,494 | ||
2001 | 408,024 | 443,265 | ||
2002 | 423,727 | 432,661 | ||
2003 | 438,075 | 439,365 | ||
2004 | 466,955 | 440,000 (forecast) | ||
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