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

New landmark achieved for November’s new car market

For yet another month, the market has seen steady growth in the UK, increasing by 2.9% throughout November. With 184,101 new cars being registered in the UK last month alone, bringing the total of new cars on British roads to 2.5 million this year. This is the first time this landmark figure has been achieved in the month of November.

During November, petrol registrations increased by 7.9%, totalling 88,541 vehicles, with diesels seeing a small decrease of 2.9%, despite totalling slightly more units with 88,897 hitting UK roads. However, most impressive is the 25.1% increase in the demand for alternatively fuelled vehicles (AFV’s) totalling 6,663. This accounted for 3.6% of the market and achieved the highest figures seen to date.

Date sourced from SMMT November 2016 market report.

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