New research from the Society of Motor Manufacturers and Traders (SMMT) claims that British motorists are expected to register around 350,000 new cars during March.
According to the figures from the SMMT study, UK drivers are forecasted to spend up to £5 billion on new cars in March, generating over £1 billion for the UK economy in the process.
Overall, March is expected to be the most profitable month of the year for the British automotive industry. As the SMMT predicts, this month will account for almost a fifth of the year's trade - alongside September, which is traditionally the second busiest.
"The March market holds a great deal of significance for the UK's franchised dealer network, motorists and the wider economy," said Paul Everitt, SMMT Chief Executive, commenting on the report.
"More than 350,000 vehicles will be registered in the month with private motorists and business buyers capitalising on the ever increasing levels of fuel efficiency, safety, comfort and practicality of today’s vehicles."
More choices than ever
In addition, research found that the current motoring offers represent one of the biggest ever choices for UK drivers, with more than 300 technology-packed models on the market.
The SMMT report also published the average shopping list of British motorists and revealed some of the most common features of today's purchases.
These days, average new car CO2 emissions are now 138g/km with official figures typically exceeding 50mpg. In terms of safety, almost eight in ten cars (77%) tested by Euro NCAP in 2011 achieved five stars.
Further figures show that road fatalities have fallen almost 50% in the last decade and that theft of vehicles has decreased by almost 70% over the same period.
Other current trends when buying a new car include the growth in the Supermini segment, which is now the most popular - 36.3% of the total market - and the preference for alternatively fuelled vehicles growing steadily with more hybrid, pure electric and biofuel models available than ever before.
Finally, the research shows that digital radio is becoming the 'must-have' option for most new car buyers and reveals that silver and blue coloured cars will be the most popular in March purchases.
