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Thursday, 8 November 2012

Number of car sales increased last month, figures show

New figures from the Society of Motor Manufacturers and Traders have shown there was a big increase in car sales last month.

A total of 121,252 cars and commercial vehicles were registered during October, 12 per cent more than was the case in the same month in 2011.

It prompted forecasts for vehicle-buying for the year as a whole to jump by two million, news that is sure to give a boost to those looking for sales jobs in the motor industry.

So far this year Britain's car market has increased by five per cent, with private buyers accounting for most of the rise and registrations of new vehicles by fleet customers also going up slightly.

Economist with IHS Global Insight Howard Archer told the Financial Times: "The strength of private car sales in October gives a lift to hopes that consumers are becoming a bit more prepared - and able - to spend."

The figures prompted PricewaterhouseCoopers automotive partner Phil Harrold to predict a "renaissance" for the automotive industry for at least five years, Tyre Press reports.

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Posted by Richard Esquilant

Source: The Sales Engineer News

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