Record Breaking Car Sales for 2014
2014 has been an amazing year for the UK car market, with record breaking sales of 2.5 million vehicles, making it the fourth highest annual sales ever and the largest since 2004. There staggering numbers are mostly a result of the latest fuel saving technology adopted by some models, and not to mention the cost saving offers by some manufacturers. Of almost 2.5 million new car registrations, there were some standout performances particularly in hybrid models, with sales from 3500 in 2013 to an astounding quadruple 14,500 in 2014. This will no doubt lead to used car traders getting increasingly more used cars in stock due to part exchanges, which will no doubt mean they will need to reevaluate their motor trade insurance cover.
This news came as Britain’s own luxury car maker – Bentley revealed that 2014 was its best year yet for global sales, with car sales up 9% or 11,020 vehicles in 2014. Most Bentley motors are exported to customers around the globe, 87% to be exact. It delivered 1,387 cars, up from 1,381 cars in 2013 and 3,186 cars, up from 3,140 to its biggest market – the Americas.
December 2014 marked the 34th consecutive month for growth, making the UK the second largest new car market in Europe after Germany and ahead of France, Italy and Spain. Car buyers splurging on great deals just before the holiday season resulted in sales of more than 165,000 vehicles, an 8.7% rise from the same time in 2013.
Monthly sales have recently risen after a slump in 2009. Adding to this the scrappage scheme, which offered new car buyer’s discounts on trading in their old vehicles showed some increase in sales numbers but slipped back when it ended. Today, there are more than 20 different models or manufacturers to choose from compared to just six in 2011, with several body styles as well including hatchbacks, SUV’s and coupes. Adding to this, each of the 10 best-selling car makers today has a ULEV (ultra low emission vehicle) model in its lineup.
Industry experts claim that this increase in car sales can be partly attributed to the easy availability of cheap finance and lower car insurance premiums with small deposits and no downpayment options allowing consumers to drive away for a few hundred pounds per month. The top selling vehicle for 2014 was the Ford Fiesta, with the Ford Focus and Vauxhall Corsa not too far behind. Making up for the remaining list of 10 bestselling vehicles of 2014 were Vauxhall Astra, Volkswagen Golf, Volkswagen Polo, Audi A3, Fiat 500, Nissan Juke and Nissan Qashqai.
Most manufacturers experienced double digit growth especially Mitsubishi and Jeep, both up 75%. Renault was another big winner for 2014, with sales numbers up 44% compared to 2013, and other winners included Jaguar with a 14% rise, Volvo and Mazda up 26% and the bargain brand Dacia up 39%. Industry experts claim that more buyers are opting for multi-purpose vehicles such as SUV’s economic motors. They also reported a boost in ultra low emission vehicle sales from 3,586 in 2013 to 14,498 in 2014.