Car finance intermediary Car Loan 4U has said it is "encouraged" by the latest statistics for new car registrations released by the Society of Motor Manufacturers and Traders (SMMT).

According to the SMMT, registrations in August were up 10.94% year-on-year to 65,397, and up 10.37% for the January-August period.

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The figures continued a long-term rise which Ryan Dignan, director of Car Loan 4U, said was "always encouraging", adding 18 consecutive months of growth was "extremely pleasing news for the car industry in the UK".

Rising alternative

Dignan also highlighted the 41.37% year-on-year rise in August registrations of alternatively-fueled vehicles (AFVs) to 955 units.

Although growing from a much smaller retail base than petrol or diesel engine models, 18,785 AFVs have been registered so far in 2013.

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Among those registrations was the first Mia-Electric sold in the UK, on personal finance and using Car Loan 4U as broker.

The Macclesfield-based intermediary has consistently spoken of the potential of the electric vehicle (EV) market, CAP Consulting this week announced its concerns over the potential detriment to future used EV values prompted by government subsidies.

richard.brown@timetric.com