280,000 new cars were registered last month, compared with 254,000 in March 2020 – that puts registrations of the new 21 plate up 10% on the same time last year. It’s significant because, the motor industry, in common with our own sector, has had to adapt to a new sales format with showrooms remaining closed throughout the last month.
It also shows that consumers continue to feel flush. The Bank of England Monetary Policy Committee suggests that this runs to the tune of £125billion. Consumer confidence remains high, and housing mortgage approvals are up by more than 40%.