Welcome to the Car Finance Facts post for December 2016. Here we provide an insight into the latest happenings in the car buying industry, both across the UK and here at Creditplus.

2016 becomes a record year for the UK new car market, achieving 2.69 million registrations overall

The UK new car market scored yet another record year, as annual registrations climbed for a fifth year running with 2.69 million registrations. In 10 out of the last 12 months, the market has accomplished an increase in car registrations. Despite this, however, December totals were down by -1.1% compared to 2015.

According to SMMT, Fleets were responsible for the majority of growth in the market, with demand reaching a record of 1.38 units. The private market experienced a record high as more than 1.2 million private buyers registered a new car at some point in 2016.

Date sourced from SMMT December 2016 market report.

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