2014 New Car Registrations

UK new car registrations reach 10-year high in 2014

New UK car sales hit a 10-year high in 2014, boosted by confidence in the economic recovery, the Society of Motor Manufacturers and Traders has said.

• 2,476,435 new cars registered in the UK in 2014 – the most in a calendar year since 2004.
• Year was fourth-largest of all time; only 2002, 2003 and 2004 saw more cars registered.
• 2014 market grew 9.3% over the previous year, ahead of the EU average of 5.7%*.

The UK remains second largest market in EU (behind Germany and ahead of France, Italy and Spain), and recorded second-largest growth of these top five EU markets. Every month in 2014 saw an increase, with December’s 8.7% rise the 34th consecutive month of growth. Huge growth for plug-in car market, which saw volumes quadruple from 3,586 in 2013 to 14,498 in 2014.

Mike Hawes, SMMT Chief Executive, said, “UK new car registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with confidence in the economy saw consumer demand for the latest models grow consistently and strongly.

“The year was particularly strong for alternatively-fuelled vehicles as increased choice, coupled with a growing desire for reduced costs and greater efficiency, resulted in a quadrupling of plug-in car registrations over 2013. With a variety of new plug-in models expected in 2015, this area of the market will continue to grow significantly. For the market as a whole, we expect a more stable 2015 as demand levels off.”

 

UK new car registrations (rolling year total) – 2008-2014, with 2015 forecast

2014 saw a remarkable surge in demand for ultra-low emission vehicles (ULEVs): registrations of plug-in cars increased four-fold from 3,586 in 2013 to 14,498 in 2014. ULEVs offer increased efficiency and reduced running costs, and increasing consumer awareness has driven registrations upwards. Consumers are faced with a burgeoning choice when it comes to ULEVs: there are now more than 20 models available to buy, compared with just six in 2011. Body styles include hatchbacks, SUVs and coupés.

• The UK car market has seen the second-largest level of growth in Europe, 3.6 percentage points greater than the EU average of 5.7%.
• Moderate growth was seen in the majority of Europe’s largest markets – France (1.1%), Germany (2.6%) and Italy (4.3%).
• A national scrappage scheme means Spain is the only market in the EU top five to exceed the UK’s level of growth, posting an 18.1% increase.