Welcome to the Car Finance Facts post for February 2017. Here we provide an insight into the latest happenings in the car buying industry, both across the UK and here at Creditplus.

UK new car market remains steady throughout February

According to reports published by SMMT, the new car market remained stable in the second month of 2017. Although there was a -0.3% drop, 83,115 cars were registered in the notoriously quiet month of February. However, the new car market is predicted to bounce back during March, as buyers tend to take advantage of the new 17-plate registrations.

Furthermore, February saw another strong month for alternatively fuelled cars, with a 48.9% uplift on 2016. With 4% of the total market share, alternatively fuelled vehicles experienced another extremely strong month, and with major manufacturer investments, this is set to increase.

Date sourced from SMMT February 2017 market report.

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