Diametric set to meet demands of expanding new car market
Leading UK branding specialist Diametric has welcomed record-breaking figures which show the best-ever performance in the UK’s new car market in 2015.
There were an unprecedented 2.63 million new car registrations last year, the fourth consecutive year of growth, driven by strong consumer demand and business confidence.
According to a report from the Society of Motor Manufacturers and Traders (SMMT), the new car market enjoyed a 6.3% rise in demand, exceeding its forecast and outperforming the last record year, which was in 2003.
Graham Steele, managing director at Diametric, said: “This is an excellent start to the new year for automotive supply chain manufacturers. We welcome the new figures from the SMMT and can now look forward to the year ahead with optimism and increased confidence.
“There was huge rise in December, up 8.4%, with 180,777 new cars sold. Registrations of company cars also went up by 18.1%. All this has given Diametric a real boost.
“Fleet demand is also at its highest ever level, surpassing 1.3 million vehicles in 2015. We’re predicting this market will continue to grow over the coming months.”
The SMMT reported increases for all fuel types, with petrol up 8.4% and diesel car registrations up 3%. Alternatively-fuelled vehicle (AFV) demand rose by 40.3%, the biggest ever market share of 2.8% in one year. Demand for plug-in hybrids more than doubled, and the sale of pure electric vehicles increased by 50%.
Graham added: “The indications are that 2016 will continue this upward trend. Diametric is looking forward to meeting the demands of this expanding car market with its high-quality products.”
Mike Hawes, SMMT Chief Executive, said: “The new car market defied expectations in 2015, and the past four years have seen a remarkable period of sustained growth.
“The outlook remains positive with every reason to expect the market to hold broadly steady in 2016.”
Diametric is one of the UK’s top badge, nameplate and label manufacturers, and specialises in branding for the automotive industry – counting Jaguar Land Rover, Triumph and Rolls Royce among its clients. It produces high-quality badges for both automotive interiors and exteriors, including bonnets and tailgates, wheels caps, decorative trim for dashboards, steering columns and gear knobs.
To find out more about what Diametric has to offer, take a look at the company’s automotive page.