New car sales in the UK accelerated during October 2014 as 2 million cars were registered for the year, the fastest rate of growth recorded since 2007.
Registrations rose by 14.2 percent in October too 179,741 sales continuing a run of growth for the 32nd consecutive month.
Alternatively fueled cars are continuing to see a rise in demand, the market is up by 50 percent for the year as buyers seek to reduce their tax rates and fuel bills.
Private car sales are being helped by the availability of cheaper credit deals and fiance packages, analysts believe it is also a sign of consumer confidence returning after taking a battering during the 2009 banking crisis.
Rising employment and lower inflation are also combing to give consumers a much stronger purchasing power. Conusmer’s may also have been waiting for their previous contracts to expire before going ahead with another buying cycle and this may well preciptate slower sales in the coming months.