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2m new Cars sold in 2012

2012 saw sales of new cars in the UK peak at an 11 year high, as motorists swapped old cars in need of expensive repairs for newer, more reliable alternatives.

With over 2 million new cars leaving the forecourt in 2012 there was a rise of 5.3pc over the figures for 2011. Family run-arounds were the most in demand of the new models with Ford, Vauxhall and VW all represented twice each in the top 10 results.

This is a surprising revelation after a year in which much of the focus was placed on budgeting and trying to save money. However with a host of new models with innovative, fuel efficient technology available, people have been swapping the more expensive to run and maintain, older alternatives for a newer, cheaper option.

However there are warnings in the industry that suggest the good news may not last into 2013. Head of retail and wholesale at Barclays, Richard Lowe said: “As we look to the year ahead the real question is whether the demand will hold. Consumer pockets will continue to be squeezed, and both manufacturers and dealers will have to be careful that supply does not outstrip demand”.

If you want any information about taking out finance deals for a new car, or are looking to start saving and are unsure of your options, please contact one of our advisors today, and we will be happy to provide you with all of the information you need

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