SMMT: Fleet demand supported market in February
A strong demand for fleet cars helped prop up the market in the UK in February, it has been stated.
Figures published by the Society of Motor Manufacturers and Traders (SMMT) indicate that new car registrations dropped less than initially expected last month, falling just 7.7 per cent to 63,424 units.
Paul Everitt, SMMT chief executive, said that although these statistics are lower than those in 2010, they represent an improvement on 2009 and could be buoyed by increased customer interest in the latter half of the year.
"The UK motor industry is looking for a strong March market to help boost confidence and kick start demand for the new 11-plate," he observed.
March registration figures will be released on April 6th, the SMMT also noted.
According to the organisation, the automotive industry is a vital part of the UK economy, with a turnover of around £40 billion and £8.5 billion value added.