Motoring ahead: PPI payouts fuel jump in sales of new cars
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Car sales have roared to their highest level for more than five years as PPI mis-selling claims fuel a boom in consumer spending.
Over 400,000 new cars were sold in September, with more than one in seven, including the Mini built in the UK, the Society of Motor Manufacturers and Traders said today.
Sales of the September 63 plate were 12.1% higher than in the same period last year, and the most since March 2008.
However, the figure of 403,136 cars registered last month is lower than the average of 416,000 sold each September before the credit crunch.
Chief executive Mike Hawes said: “The UK car market has had a fantastic September and reflects growing confidence across the economy. People have been attracted by new deals and a number of customers have benefited from PPI mis-selling claims.”
Ford remains the UK’s top-selling make with 20,600 Fiestas sold in September. The Vauxhall’s Corsa is in second place.
“This is the 19th consecutive month of steady growth and, with fleet and business demand still to reach pre-recession levels, we believe the performance to be sustainable,” Hawes added.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
0Comments