Birmingham, West Midlands -- (SBWIRE) -- 04/24/2015 -- During March 2015, the number of new cars registered rose by 6% across the UK as a whole. The registration plate update always provides a boost for the car industry, but this year demand has been at the highest level for fifteen years. It follows on the heels of nearly six years of falling sales due to the recession.
In total dealers registered 492,774 new cars during March. This is the highest level of new registrations since 1999 when new car number plates were split across two months. The strongest month ever for new car registrations was August 1998, when 525,000 new cars were registered.
If new car registrations in September of this year are high, this will be a record year for new car dealers. This seems likely given the fact that sales to date are already strong. Sales are already up by 6.8% with 734,588 new cars registered in the past 12 months.
Demand for used cars is also soaring. The majority of the cars for sale in Birmingham and most other parts of the UK are second hand rather than new cars, and there is strong demand for these too. After years of making do with older vehicles, UK consumers are feeling confident enough to buy.
The falling cost of living means that UK households have more cash available, so are once again able to make big purchases. Most consumers are feeling more financially secure so they once again feel able to take on large a financial commitment, which is helping to boost used car sales.
The changes in the pension rules are also expected to give sales of both new and used cars a boost. The changes in the pension regulations mean that thousands of people in the UK will have access to a large sum of money. Many are expected to use this cash to buy a new vehicle.
For more information visit the website http://www.westleymotor.co.uk/used-cars
For Media Contact:
First Name: David
Last Name: James
Business Name: Westley Motor Co
Address 1: 204 Fox Hollies Road, Acocks Green
County: West Midlands
Postcode: B27 7PP
Country: United Kingdom
Phone No.: 0121 7077181