Are you in the marketplace for a new ‘15’ plate car?

We’re quickly approaching the release of new ‘15’ registration plates on March 1.

Will this be a trigger for you to purchase a brand-new car, or take advantage of the marketplace for ‘new’ secondhand models that swells each and every spring?

Bumper sales

If 2014 is anything to go by, Brits have lots of appetite for a new set of wheels.

New vehicle registrations hit a 10-year high of almost 2.5 million last year, the most in any calendar year considering that 2004.

There were a bumper 2,476,435 new automobile registrations in 2014, 9.3% far more than the previous year. In truth, only 2002, 2003 and 2004 recorded larger numbers.

Producing massive ends meet

The figures have no doubt spread joy to vehicle showrooms across the nation, and will have whetted salesmen’s appetites for the season to come.

But can we afford to splash the money on a new car? Surely households are struggling to make ends meet?

Mike Hawes, chief executive of SMMT, the motor business association, thinks the improve in sales was fuelled by a development in customer confidence.

He says: “UK new vehicle registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with self-confidence in the economy saw consumer demand for the newest models grow regularly and strongly.”

Ford ahead

Final year’s best sellers will not come as any surprise. The Ford Fiesta is prime of the table with 131,254, some way ahead of the Ford Concentrate in second place with 85,140.

The Vauxhall Corsa is next in line at 81,783, followed by the Volkswagen Golf at 73,880. In fifth spot comes the Vauxhall Astra with 59,689.

Running in

Shoppers may possibly be far more confident, but the demand for modest cars with reduce running fees suggests they still count the pennies when purchasing a car.

Minis and superminis now account for about 40% of the new automobile marketplace, with many purchasers impressed by the safety and comfort levels on provide in a little vehicle.

Alternator options

Cars that run on alternative fuel are also gaining in popularity. Again, our interest is partly driven by the economics of ultra low emissions.

Registrations of plug-in vehicles, for instance, improved 4-fold from 3,586 in 2013 to 14,498 in 2014.

There is also now a wider range and greater awareness of low emission vehicles, so they are seen as a credible and viable alternative to a regular vehicle.

Model behaviour

Buyers have a decision of far more than 20 models, compared with just 6 in 2011. They come in all shapes and sizes, also, which includes hatchbacks, SUVs and coupés.

They are undoubtedly no longer niche autos, as each and every of the 10 very best-selling brands in the UK has an ultra low emission car in its range.

A variety of new plug-in models are due on the forecourts this year. The SMMT consequently expects the sector to continue to expand, although it still accounts for only a tiny percentage of total sales.

Sense of objective

Automobile purchases are not all about expense cutting and fuel economy. There is also a expanding trend for dual and multi purpose automobiles, such as 4x4s. These large gas guzzlers now account for practically 20% of the market place.

The UK kept its position as the second largest marketplace in the EU, behind Germany.

It also came second in the EU development tables for 2014, pipped to the post by Spain, mainly thanks to a scrappage scheme.

Auction stations

It is not just the new auto sector that is powering ahead. The average price tag of a utilized car also went up in December 2014 to the second highest on record, according to information from British Vehicle Auctions (BCA).

The average value across all types of used vehicle rose by 5.7% in December, or £434.

The shortage of great top quality utilised cars helped to push up rates and Simon Henstock, BCA’s UK Operations Director, is optimistic about the future.

He says: “The early days of trading in 2015 have been exceptionally busy and with the new plate on March 1st only weeks away, we are entering 1 of busiest periods for the motor trade.”

Are you in the marketplace for a new ‘15’ plate car?