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| Monday, 10 June, 2002, 14:03 GMT 15:03 UK UK car boom puts Europe in the shade British car buyers have continued to snap up new models, making the UK one of the most active car markets in Europe.
The new figures from the Society of Motor Manufacturers and Traders (SMMT) also show that car sales rose by 5.1% in May alone. Across Europe, however, demand for cars has fallen by 2.6% during January to April, according to ACEA, a body representing European car, truck and bus manufacturers. The Ford Focus continued to be the best selling car in the UK for the 25th successive month. Consumer buying spree The SMMT said strong growth in the UK market was being driven by private buyers attracted to new models and low-cost finance packages.
However, he warned that the growth of the UK car market during the past 20 months could not be sustained forever. The enthusiasm of private buyers has offset a cooling in the market for big fleet purchases by companies. New car registrations are expected to hit 2.4 million by the end of the year - just below last year's record total of 2.46 million. Beating Europe The UK is now Europe's second largest car market, after Germany, and the only one of Europe's big five markets that is growing. The Italian and Spanish markets have been hit by a slump, while Germany and France remain sluggish, said the SMMT. The main source of growth in the UK market came from smaller cars. |
See also: 07 Jun 02 | Business 31 May 02 | Business 05 Feb 02 | Business 07 May 02 | Business Internet links: The BBC is not responsible for the content of external internet sites Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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