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Fleets drive car registration growth in May

Date: 06 June 2016   |   Author: Daniel Puddicombe

The fleet market once again powered the growth in new car registrations last month, with volume increasing by 8.8% compared with May 2015's figures.

Overall, the market grew by 2.5%, with 203,585 vehicles registered, May's highest total since 2002, according to the Society of Motor Manufacturers and Traders.

More than a million cars - 1,164,870 units - have been registered so far this year, a 4.1% rise compared to the same month last year.

Demand for diesel cars grew by 5.0%, while petrol models saw a 0.6% decline in sales, and alternatively-fuelled vehicle registrations grew by 12.1% compared with

"The new car market in May remained high with compelling offers available on the latest vehicles, but the low growth is further evidence of the market cooling in the face of concerns around economic and political stability," said Mike Hawes, SMMT chief executive. "Whether this is the result of some buyers holding off until the current uncertainty is resolved or a sign of a more stable market for new cars remains to be seen."