Biggest rise in car sales in two years

 
City A.M. Reporter
A jump in private demand drove a 7.9 per cent rise in British new car sales in May compared to a year ago, the Society of Motor Manufacturers and Traders said on Friday, in a sign that consumers are regaining confidence.

The overall percentage increase - which resulted in 162,288 new car registrations last month - was the strongest in almost two years as private demand rose 14.3 per cent.

Total new car sales between January and May were 2.6 per cent up on a year earlier, according to the industry body.

"May's 7.9 percent increase in new car registrations is good news for the motor industry and the UK economy, particularly the steady growth in demand from private buyers," said Paul Everitt, SMMT chief executive.

"The consistent climb in new car registrations during the first five months of the year suggests that confidence is returning, despite financial uncertainty in the euro zone."