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Financial News: UK Car Sales Log Double-Digit Growth In August

UK Car Sales Log Double-Digit Growth In August

09/05/2018 - 05:48:00 (RTTNews)

(RTTNews) - UK car registrations logged a double-digit growth in August as the market responded to regulatory changes, the Society of Motor Manufacturers and Traders said Wednesday.

New car registrations increased 23.1 percent year-on-year to 94,094 units in August.

The market responded to regulatory changes, with cost-savvy buyers taking advantage of some compelling deals in what is always one of the year's smallest months.

The SMMT said demand for hybrid and plug-in cars surged 88.7 percent with record one in 12 buyers going electric.

However, in the year to date, the overall car sales decreased 4.2 percent, in line with forecasts after a turbulent first eight months.

Mike Hawes, SMMT chief executive, said, "It's great to see such strong growth, particularly in the important electric vehicle market."

"However, given August is always a small month in new car registrations ahead of the important plate-change month of September, it would be wrong to view the market as booming."

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