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Everyone knows the past few years have been economically difficult.
Consumers and businesses lost confidence and spending contracted, with perceived luxury items one of the first to go. Within this context, it is interesting (and very positive) that new vehicle demand seems to be booming.
UK car registrations are well ahead of the 2012 figures; in fact registrations rose by 7% in November to 159,581 units (the month's best performance since 2004).
This means the car market is on target to hit 2.25 million registrations for 2013.
On the commercial side, new car registrations are being matched by vans where the market is up by more than 10% and on track to top 300,000 units for first time in five years.
Both provide a clear indicator that consumers and businesses are investing in new vehicles.
From an economic perspective, we certainly aren't out of the woods. Things are improving and confidence is growing, but it's a gradual recovery and costs are still being tightly managed.
Increasing demand for new vehicles confirms that vehicles are a large expense but not luxury items - they are an essential part of our daily lives.
Even when times are tight, vehicles are an area deemed worth investing in. Operating the latest, most economical vehicles is really important.
One of the most compelling reasons to change your vehicle is that modern models tend to be better from an operational perspective.
They often have lower emissions and improved mpg performance which makes them cheaper to run.
With advances in technology, they are often safer and more comfortable. This means that investing in a modern car or van will normally pay dividends.
Vehicle demand is growing, confidence is returning to the market, and the manufacturers are coming up with some great products. The result is that I expect 2014 to be another strong year for new vehicle sales.
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