New car registrations have hit a new record for March, with almost half a million sales making it the best month this century.
The latest figures from the Society of Motor Manufacturers and Traders (SMMT) showed that a total of 492,774 cars found new homes last month – a figure that is up six per cent on March 2014.
This latest increase has been largely down to the growth in the fleet market, though private registrations continue to do well thanks to new product and low interest rates, according to the SMMT.
The SMMT claims that the continued growth in new car sales has attracted more than £14 billion of investment since 2011, creating almost 30,000 additional jobs.
It has called on the incoming Government to ensure that the growth remains and wants to see continued investment in technology and innovation as well as keeping the UK as part of the EU.
Mike Hawes, SMMT Chief Executive, said, “The challenge for a new government and industry will be to maintain this momentum and to strengthen Britain’s manufacturing capabilities through continued investment, innovation and policies which maintain our global competitiveness.
“Whatever the general election result, the new government must keep up the commitment to the sector which is delivering at home and abroad.”
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