(Adds comment from Deloitte.)
By Ian Walker
LONDON--U.K. new car registrations last year were their highest
in a decade, and the fourth highest on record, as pent-up demand
from the recession years combined with confidence in the economy
saw consumer demand for the latest models grow consistently and
strongly, an industry body said Wednesday.
A total of 2.48 million new cars were registered in 2014, 9.3%
higher than a year earlier, and slightly more than the U.K. Society
of Motor Manufacturers and Traders' expectation of 2.46 million.
Only 2002, 2003 and 2004 saw more cars registered, the SMMT said.
New car registrations closely mirror sales.
In December, 166,198 new cars were registered, a rise of 8.7%
over the same month a year earlier and the 34th consecutive
rise.
"The year was particularly strong for alternatively-fuelled
vehicles as increased choice, coupled with a growing desire for
reduced costs and greater efficiency, resulted in a quadrupling of
plug-in car registrations over 2013," SMMT Chief Executive Officer
Mike Hawes said, adding that with a variety of new plug-in models
expected in 2015, this area of the market will continue to grow
significantly.
"For the market as a whole, we expect a more stable 2015 as
demand levels off, Mr. Hawes said. The SMMT is projecting 1%-2%
growth in 2015.
The SMMT said the U.K.'s top two best-selling cars in 2014 were
the Ford Fiesta and Focus.
David Raistrick, U.K Automotive Leader at Deloitte, said he
believes the U.K.'s new car market should continue to be a success
story over the next 12 months, but doesn't think the rate of growth
achieved over the past 34 months will continue.
"Our forecast for the next 12 months is for new registration
figures to broadly match, or possibly even be slightly less than
2014," Mr. Raistrick said. He added that it would be interesting
whether the falling price of petrol and diesel would impact the
alternatively fuelled vehicle market.
"The 2014 figures are great news, and more of the same or even
slightly less in 2015, should be seen in an equally positive
light," Mr. Raistrick said.
Write to Ian Walker at ian.walker@wsj.com