UK was one of the top countries badly affected by the recession. The impact paralyzed many departments; leaving plenty struggling to keep up their work and some being left jobless. However, the effects of it seem to have receded as the automotive industry shows growth. The growth is nothing unnordinary; car sales have increased for the 12th successive month in February. Many wondered what gave this a start and were pleased to know that it was boosted by manufacturer’s deals.
The Society of Motor Manufacturers and Traders (SMMT) who have been keeping a close eye at the UK’s auto industry reported that there were around 66,749 new registrations in the month of February. This in comparison to the same month last year shows a 7.9% rise which is a green signal for the growth of the auto industry.
The rise has overwhelmed the manufacturers and they are trying to contribute in every way to give a boost to the industry. SMMT also reported that it took total sales for the year-to-date to 210,392 which is a whopping 10.3% increase. The car buying trend has picked up and people are spotted buying new and used cars in Hull and around UK with double the interest than they showed more than a year ago.
SMMT has also reported that though February is usually a low volume month, the introduction of new car deals which is keeping the market afloat. As per the report of SMMT of last month, UK car production has touched a four-year high for 2012, not to forget car exports registering a record high. It was observed that the mini and superminis cars sold out much faster and the sales department stayed pretty busy.
Noticeably the registrations of mini-sector cars increased 135.7% in February and have doubled during the year-to-date. Supermini segment didn’t stay behind and it supported itself by strengthening its status as the largest segment with a 36.5% share of volumes in the month of February. An analyst believes that the car sales were a ‘bright spot’ in the UK economy and would put it on the road of recovery.
Unfortunately, the picture was not rosy for the European vehicle sales, as they slumped 8.2% in 2012; the news devastated many. SMMT reported that UK factories produced 1.46 million cars in 2012 alone and out of them 1.21 million were sent abroad. The consumer’s confidence is the most important thing to maintain and with the steady and positive growth in automotive industry, it looks like finally the UK auto industry is moving forward.