SJD Accountancy

SMMT predicts further growth in car sector

Request Callback

Contractors who work in the manufacturing car industry, might be interested to hear that a latest report has found that the industry experienced yet another growth last month.

According to the industry association, SMMT, new UK car registration numbers rose 11.5% to 143,643 units in January.

The report also found that growth was boosted by 15.9% in private registrations during the month, and growth in private and small car demand helped petrol cars see their market share rise.

These new findings could certainly benefit limited company contractors and freelancers working in the sector, who could well find themselves in high demand during 2013, especially as the SMMT report has forecast even further growth over the next 12 months, due to an encouraging 2012 performance.

“The new car market has started the year confidently with registrations climbing 11.5% in January.” Said Mike Baunton, Interim Chief Executive of SMMT.  “Lifted by a solid rise in private demand, the new car market posted its 11th successive month of growth with motorists attracted to forecourts by the latest models and competitive deals on offer.

“Building on a strong performance in 2012, SMMT has increased its market forecast – we anticipate a modest rise over the year, followed by further growth in 2014.”

Please visit our Contractor News page for all other news.

For all the latest contractor news, views, debates and competitions, why not join us on Facebook and follow us on Google+

Request a Call Back

We want you to know exactly how our service works and why we need your details. Please read our Privacy Policy before you continue.