The UK automotive industry continues to grow, recently recording its 39th consecutive month of growth. This highlights the resiliency of the industry and just how well it is weathering a period of economic uncertainty. With growth continuing to steam ahead, it is clear that the omens are good for the automotive industry.
The latest figures, released by the Society of Motor Manufacturers and Traders, highlight that registrations have reached a total of 1,119,072 in 2015, indicating a rise of 5.7%. These figures represent a growth of 2.4% within the new car market. New car registrations in May itself saw a growth of 2.4% to 198,706 units newly registered. The retail market increased by 1.2% to 91,841 units and company car volumes are 11.8% higher to 528,732. These figures, compared year-on-year, highlight just how strong this year is for the automotive industry.
There can be many reasons for such growth. The ultra-low emission vehicle market, in particularly, saw a four-fold increase between January and May, shifting 11,842 units. Due to the larger number of vehicles available on the market, more are being sold, which is helping to boost the number of new car registrations. Such a rise could also be due to people replacing old cars as the recession comes to an end. As new vehicles and products and better financial deals attract potential vehicle owners, and as more and more companies look towards upgrading their fleets with ultra-low emission vehicles, this number looks to be one of the strongest Mays on record for the automotive industry.
The competitive monthly growth continues to bring positive news to the industry, although that means that the industry has to work harder to ensure that it remains on top of its game. With this in mind, our team at John Gibson Associates continues to specialise in automotive recruitment, fulfilling every need that the industry has. We work diligently to ensure that the best possible candidates are recruited and placed into the vacancies where they will thrive and help the company to succeed.