UK Car Sales Rise 9.5% Year over Year

British consumers continued to splash out on new cars in August, extending the record unbroken run of sales growth to two-and-a-half years.

New car sales were 9.5% higher than August 2013, with 72,163 vehicles registered, according to the Society of Motor Manufacturers and Traders (SMMT).

It marked the 30th consecutive month of growth in new car sales, the longest since records began in 1959, with consumers spurred on by cheap finance deals and a desire for more fuel-efficient models.

August is typically one of the quietest months for new car sales, falling just before the September plate change and accounting for abound 3% of annual sales. September usually accounts for about 18% of new car sales each year.

Economists said growth in August sent a positive signal about the industry’s short-term health but warned that weak wage growth and the prospect of rising interest rates may start to weigh on the car market.

via The Guardian

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