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Cars trade motoring last month; 162K VEHICLES FLOGGED IN MAY yourmoney.


CAR dealers enjoyed their biggest jump in sales for nearly two years last month, figures have revealed.

A total of 162,288 new cars took to the road in May, an increase of 7.9% on the same month in 2011, smashing forecasts by The Society of Motor Manufacturers and Traders.

The upbeat figures will also boost hopes for the economy, as buying a new car is a sign of confidence.

Last month's rise was fuelled by a 14.3% surge in sales to private buyers, although it compares with lacklustre demand the year before. Companies were also confident enough to update their vehicles, with fleet sales up 4.8% last month.

SMMT chief executive Paul Everitt said: "May's increase is good news for the motoring industry and the economy, particularly the steady growth in demand from private buyers.

"There is no doubt that vehicle manufacturers and their dealer networks are working hard to deliver value for money to motorists and the consistent climb in new car registrations during the r su o re tain first five months of the year suggests that confidence is starting to return, despite the financial uncertainty in the eurozone." ggests eturn, nty in rdri UK car plants are in overdrive, thanks to booming exports. ive, The most popular car last month was the Vauxhall Corsa, with 8,413 sold. t a, las orsa d. we, ail Barc all mark tinu Richard Lowe, the head of retail and wholesale at Barclays, said: "Against all the odds, the market's resilience continues to hold firm. the and clays, l the ket's ues to , e s o JOY "Undeterred by economic concerns, consumers are still buying new cars, increasingly encouraged by new, efficient models. d b m is , ew ed r's ee he ng "However, the summer's sporting events may see consumers avoiding the forecourts in favour of watching the events on the field. by c value The package reckons over 12 The downloads weekend offers content "The combination of this and the expected rise in fuel duty may find the industry's rising registration figures come under pressure during the second half of the year." and duty rising under d half of


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Title Annotation:Business
Publication:The Mirror (London, England)
Date:Jun 9, 2012
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