Welcome to the Car Finance Facts post for January 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 kick-starts 2017 with a 12-year high in January

According to reports published by SMMT, 174,564 new cars were registered on roads in the UK during the first month of 2017. This is a 2.9% increase from January 2016, and the highest level since 2005, an extraordinary achievement.

Furthermore, the alternatively fuelled vehicle segment managed to hold a record 4.2% market share in January, growing by an astonishing 19.9%. This is the first time that alternatively fuelled vehicles have crossed the 4% market share figure on record.

Date sourced from SMMT January 2017 market report.

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