Latest figures from the SMMT show that a total of 72,163 new cars were registered in August, marking a 9.4% rise on August 2013.

Private and fleet registrations both displayed similar increases in the month, with the former making the greater gains in the year-to-date.

Fleet sales rose 10.0% last month from 32,382 units in August 2013 to 35,632 units. Private registrations were also up 10.3% to 34,857 units from 31,608.

However, the sub-25 business sector saw a 14% drop, with registrations declining from 1,947 units in August 2013 to 1,674.

Year to date, the overall market has reached in excess of 1.5 million units – up 10.1% – although the SMMT said that some levelling off is expected in coming months.

Fleet registrations for the first eight months of the year are up 8.1% to 726,001 units from 671,688 for the same period in 2013. Private registrations are slightly ahead with 11.3% growth to 735,235 units from 660,572 for the first eight months of 2014. The sub-25 business sector saw the highest growth though, with registrations up 19.4% to 71,099 units from 59,528.

Commenting on the latest figures, Mike Hawes, SMMT chief executive, said: ‘New car registrations reached two-and-a-half years of consecutive monthly growth in August, as confident private and fleet consumers continued to snap up enticing deals on a wealth of advanced new products.

‘The UK’s performance in the context of Europe is particularly impressive, with growth consistently ahead of the rest of the EU for the past two years. As the UK market starts to find its natural level, we expect to see the growth level off during coming months.’

David Raistrick, UK Automotive Leader at Deloitte, added: ‘The UK new car market is enjoying its 30th consecutive month of comparative growth, supported by historically low finance offers available to consumers as the Bank of England’s base rate remains at 0.5%. As we approach the second major registration month of the year, the automotive retail sector is anticipating a further bumper month of new car sales as the continuing growth trend shows no immediate sign of coming to an end.

‘It is unlikely that manufacturers will be moving their focus away from the UK market just yet, as growth being achieved in the other major European markets is still well behind that of the UK. With the possibility of deflation looming in the Eurozone, this could potentially lead to the recovery in some European markets being slowed further, as consumers delay making purchases in the expectation of price reductions. This would suggest that we will continue to see production being directed to the UK where consumers are showing confidence to enter the market.’