Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK car market records best year since financial crisis


Britain’s new car market recorded its best year for sales in 2013 since before the 2007 financial crisis.

British consumers bought more than 2.26 million vehicles in the past 12 months, representing a rise on 10.5pc on the previous 12 months, consolidating Britain’s position as Europe’s second largest car market, behind Germany.

The results have come on the back of growing consumer confidence in the UK, as well as cheaper credit availability. This is reflected in the UK car market being the only one in Europe to grow consistently over the past year, with all other major markets (excluding Spain) declining.

The Society of Motor Manufacturers and Traders’ (SMMT) welcomed the news as they predicted total sales to be slightly lower at 2.25 million.

The SMMT added that more than one in seven of these sales were cars that were built in Britain, and claimed that the growth is sustainable feeding through into 2014.

“With the UK economy looking increasingly positive, we can expect strong underlying demand for new cars to continue into 2014,” said Mike Hawes, SMMT chief executive.

Need Advice

If you’re need to ask a financial question then please contact our financial advisers online or over the phone to get help with your query.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details