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New car sales grow for 20th consecutive month

Date: 06/11/2013 15:37:15
Category: Car tracking
Author: David Howells

Fuel efficiency concerns have been revealed as one of the main reasons for a boost in new car demand, topnews.ae reports.

Following the sale of 157,314 new cars during October alone, the Society of Motor Manufacturers and Traders (SMMT) claims that new registration figures are on course for a six-year high.

October's figures represent a year-on-year increase of four per cent, whilst also being the 20th consecutive month for market growth. As such, the SMMT has revised up its yearly forecast to 2.25 million, which - if accurate - would signal the best year of sales since 2007.

Whilst these results may be expected to be down to more financial security, industry insiders have actually put it down to added concerns on fuel efficiency. As more motorists look to drive down fuel costs, many have opted for newer models that will not only offer a greater MPG figure, but also lower road tax bills as a result of healthy emissions figures.

Speaking after the results were published, SMMT chief executive, Mike Hawes, told sky.com: "We have now seen 20 consecutive months of growth.

"These sustained rises have been driven by robust private demand, a trend that has given us the confidence to raise our year-end forecast. Looking ahead, we anticipate more moderate growth as the market stabilises."

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