Data shows there were 562,337 new car registrations last month compared to 518,707 in the same month last year – a rise of 8.4%. The figure makes March the biggest month since records began, the SMMT said.
The SMMT said that the record performance came as buyers looked to seize the opportunity to buy cars before the new vehicle excise duty rates came into force on 1 April.
In addition, the record figure for March is more than double the number in the first two months of 2017 combined (257,679 registrations).
Overall, during Q1 of 2017, 820,016 cars were driven off forecourts – up 6.2% on the same period in 2016.
Mike Hawes, SMMT chief executive, said: “These record figures are undoubtedly boosted by consumers and businesses reacting to new VED changes, pulling forward purchases into March, especially those ultra-low emission vehicles that will no longer benefit from a zero-rate fee.
“This bumper performance probably means we will see a slowdown in April, exacerbated by the fact there are fewer selling days this year given Easter timing.
“Looking ahead to the rest of the year, we still expect the market to cool only slightly given broader political uncertainties as there are still attractive deals on offer.”
New car market has ‘bumper performance’ as it hits record high
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The UK’s new car market experienced its biggest month ever during March, according to the Society of Motor Manufacturers and Traders (SMMT).
