How has the motor market reacted to Brexit?

with the van market in particular posting its strongest month in a decade.

In the new car market, fleet registrations drove demand, with a 7.7% rise in new vehicle registrations to 43,267 units, offsetting a slight fall in private registrations which were down by 0.2%. This meant that overall, 81,640 new cars were registered in August, a 3.3% increase which takes the year-to-date total to 1.68 million.

Mike Hawes, chief executive of the SMMT, noted that the results come in a month when activity is traditionally subdued. He said: "August is traditionally one of the quietest months as consumers look ahead to the September plate change, so growth, albeit small, is good news."

England and Northern Ireland are leading this growth, as related figures from the SMMT showed new car registrations up 4.5% in England in August, compared with the same month of the previous year, and up by 2.5% in Northern Ireland.

Meanwhile, new van registrations - classified as light commercial vehicles - were up 6.3% as the segment scored its best performance in 11 years.Two thirds of the market now consists of vans weighing between 2.5 and 3.5 tonnes, with demand for these vehicles alone up by 14.4% in the month. This rapid rise comes off the back of a slower July immediately following the Brexit vote, and is perhaps a sign that the market is returning to buoyancy more quickly than many expected.

Mr Hawes added: "After a slower July, it is good to see growth in the new van market pick up again in August, with a record made in this traditionally quiet month. To ensure this performance continues, it is vital that the government takes the necessary steps to secure economic stability and maintain confidence for operators to continue to invest in their fleets."