Graham Smith, global head of automotive and diversified industrials, comments on the SMMT car registration figures:
“These are an encouraging set of figures. Optimism appears to be growing, with the 12-plate making its usual contribution in March. It’s clear there’s a buyers’ market out there which is being driven by low interest rates.
“Car brands are competing for market share. Retail and private buyers are returning to the market with some competitive deals as the continued stability provided by a low bank base rate gives buyers some confidence to change their vehicle.
“At a fleet level there is also extreme competition, with significant price pressure in the premium sector, which is resulting in exceptional deals being available as manufacturers and leasing companies take some brave decisions around future residual values in their quest to gain market share.”
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