- 172,907 new cars registered in July, a rise of 6.6% and the 29th consecutive month of growth.
- Economic confidence and attractive finance have driven the market up 10.1% year-to-date to 1,460,172 units.
- Faster-than-expected first half-year growth prompts upward revision of 2014 market forecast to 2.45 million registrations, up 8.1% on 2013.
Mike Hawes, SMMT Chief Executive, said, "July saw the new car market extend its record period of growth to a 29th month, as confident consumers took advantage of an array of new products and attractive finance deals on the latest fuel-efficient new cars.
"The continued positivity has led to an uplift in the SMMT full year forecast to 2.45 million passenger car registrations, a rise of 8.1%. However, the more moderate growth of the last three months shows that overall demand is beginning to stabilise."
Charles Addison, Chief Operating Officer at Made in the Midlands added: "This forecast revision is further evidence of a full return to confidence and excellent news for manufacturers right through the automotive supply chain."
