New car sales reach pre-recession level for first time
Exciting news from the automotive sales industry has seen the transaction levels of new cars reach their highest since before the start of the financial crisis in 2007, according to these figures released by the Society of Motor Manufacturers and Traders (SMMT) for May.
Whilst this data will not be much of a shock for analysts, as the industry has seen consistent growth throughout the first half of 2013, it will be seen by some as a major landmark in the recovery of the UK economy as a whole. As the head of retail and wholesale at Barclays Corporate, Richard Lowe, put it: 'this is the 15th month running that sales have increased', adding that 'we don't expect the market to fall away and expect sales will grow' in the foreseeable future.
Once again, it was Ford garages which led the way in terms of the impressive sales figures, with the company's evergreen Fiesta model being named as the UK's biggest selling domestic vehicle, in a result which will come as no surprise to anyone who has followed developments within the sector in recent years. The Ford Focus also performed strongly, coming second in the list of best sellers over May.
The option of signing up for favourable finance deals, such as those outlined here from the Foray Motor Group, has been cited as part of the reason why sales have risen so much, but it is not the only factor in a month which brought with it a boom in private sales of over 20 per cent.
A continuing upturn in the sales of second hand Ford cars should not be forgotten with the unveiling of this good news either, with the driving public's appreciation of both new and used models produced by this iconic manufacturer only increasing as time goes on.
Image credit: Bill Selak (flickr.com)