Thursday 22 February 2018

Thousands more buying new cars so far this July

Car sales are up
Car sales are up
Eddie Cunningham

Eddie Cunningham

With days of buying still to go this month it is clear that thousands more people have purchased a new car this July than last.

Depending on when, what and where you look for official figures there is no doubt that we are headed for sales significantly ahead of last July's 18,700.

Even if the 152-reg period does not run January close enough in the race to be the biggest-selling month of the year (29,806), who is to say it won't be in 2016?

People seem to have really taken to the idea of buying in the middle of the year. That is in direct contrast to some forecasts when the new two-reg period began.

People we've spoken to say they prefer the better weather and the longer time to think about it (without Christmas and New Year getting in the way, for example).

And there seems to be little or no concern about future residual values or, equally important, the perception of getting the 'full' 12 months out of their mid-year purchase.

The next few days will tell their own tale but already the bar has been significantly raised for July buying.

And the six-figure (100,000+) barrier has been well broken on the way to what more and more experts in the industry are forecasting will be an end-of-year total approaching 125,000.

That is a significant rise on the official SIMI figures for last year of 96,338.

Meantime, the fall and fall of used imports continues with sterling's strength militating against better value.

Indo Motoring

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