Markets

UK car sales goes up in March in the UK

Car buyers in the UK are being tempted to buy the new 13 plate registration these days. This has resulted in the acceleration of car sales,  with about 400,000 vehicles being sold in the month of March, 2013.

In the same month last year, the figures were the 5.9 pc ahead. Data from the Society of Motor Manufacturers and Traders said that about 394,806 new vehicles were rolling off forecourts. This event marked the 13th consecutive month when the sales of cars in Britain have risen. The dealers in the country have enjoyed the highest volume of sales since 2010, when the government introduced a scrappage incentive scheme to bring the industry out from a financial crisis.

Moreover, the figures were way beyond the expectations of the association,  due to which the forecast of full year car sales has totalled 2.06 million vehicles. The current strength of Britain is in contrast with a drop of 10.5 pc recorded across all the European Union countries.

Mike Baunton, the SMMT interim chief said that despite the current economic concerns, consistent monthly growth is an encouraging sign of returning  consumer confidence, as the buyers are attracted to forecourts by new models, as well as the latest technology.