New car sales 'set to top £5bn'

Date: 28/2/2012

Some £5 billion will be spent on new cars next month, it has been predicted.

The Society of Motor Manufacturers and Traders (SMMT) noted March is set to be 2012's biggest month for purchases as around 350,000 new vehicles are likely to be registered.

This will generate around £1 billion for the British economy and there are currently more than 300 different models on the market, with new 12-plate cars going on sale this week.

Paul Everitt, SMMT Chief Executive, said: "The March market holds a great deal of significance for the UK's franchised dealer network, motorists and the wider economy."

He added that consumers and businesses are looking to take advantage of new vehicles that offer increased fuel efficiency, safety and practicality.

Earlier this month, the organisation revealed there was an increase in the number of bus and coach registrations in January, with the figure going up by 15.8 per cent compared with the previous month.

Posted by Mary Treen