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North's new auto registrations slump, SMMT figures show

North's new auto registrations slump, SMMT figures show

United Kingdom new vehicle sales reached their highest level for more than a decade in January, with 174,564 new cars registered in the first four weeks of 2017. 174,564 vehicles were registered last month. Given that last year, particularly in the second half, we saw consumers flocking to the used-car sector and preferring to finance 1-3 year "nearly new stock" over brand new vehicles, it'll be interesting to see whether the upturn of private new auto registrations continues throughout 2017.

Nearly 175,000 cars were registered in the United Kingdom last month, the Society of Motor Manufacturers and Traders (SMMT) said.

Across other fuel types there was a mixed picture with diesel registrations down -4.3% but petrol registrations up 8.9%.

Fleet registrations saw a 1.4% rise to 91,181 units in January 2017.

SMMT Chief Executive Mike Hawes describes the results as a good start to 2017 in the new auto market, which he ayss has been buoyed by a great range of new models which are safer and cleaner than ever before.

Registrations by private motorists had the strongest performance, rising 5% to 76,726 new cars.

"The deals are good, unemployment is low and they are the things that have driven growth", Andy Bruce said.

"The decision of the Bank of England to raise the growth forecast for this year from 1.4% to 2.0% is a positive sign as, in line with January's new auto market figures, shows that the United Kingdom economy has remained stable in the aftermath of Brexit".

NEW auto sales in Northern Ireland fell by almost one per cent in January compared to the same month past year, according to industry figures. "It's encouraging to see alternatively fuelled vehicles benefiting from this positive growth, reaching a record market share", said Mike Hawes, SMMT chief executive.

"Growth at the rate we have seen can't continue forever".

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