New car sales race ahead in January, fuelled by accelerating consumer and business confidence

 
Chris Papadopoullos
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Car sales had their best January for seven years
LAST month was the best January for car purchases in the UK since 2007, new data shows.

New car registrations reached 164,856 units, according to figures released yesterday by the Society of Motor Manufacturers and Traders.

It marks a 6.7 per cent lift on the number of new cars bought in January 2014.

“This 35th consecutive month of growth in the UK automotive market demonstrates the increasing confidence of both consumers and businesses,” said Phil Harrold, automotive partner at consultants PwC.

“People are feeling empowered to make decisions on vehicles and we are almost back to a pre-recession approach to car buying.”

Elevated levels of business were reflected in the strong rise in the number of company car registrations – up 18.1 per cent in January compared to the same month in 2014.

Another notable statistic was the 4,598 units of alternatively fuelled vehicles sold, such as the Toyota Prius – a 60.8 per cent rise on the same month last year.