New car sales in the UK are expected to be down this year - but only because of the ending of the scrappage incentive scheme.
Car maker's body the Society of Motor Manufacturers and Traders (SMMT) has announced that 395,4999 new car registrations have now been processed under the scrappage scheme, and that the scheme accounted for 18.1 per cent of new car sales between May 2009 and March 2010.
However, scrappage registrations in April accounted for just eight per cent of sales - the lowest number while the scheme ran - and the SMMT says this suggests the new car market will remain buoyant without the incentive.
“The scheme helped support our economy and played a vital role in providing a much-needed boost to the UK automotive industry," said SMMT chief executive, Paul Everitt.
"Our latest registration forecasts suggest the 2010 market will perform better than expected, but will appear subdued compared to the peaks achieved during the scrappage scheme.”
The SMMT also revealed that average CO2 emissions of a car bought through the scrappage scheme were 132.9g/km of CO2, more than 27 per cent below the scrapped car’s figure and 9.5 per cent below the overall new car market average.
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Re: New car sales 'down in 2010'
Another tirade from the voice of doom. We all know things are as bad as they can get but regardless of how bad things are for majority of people there will always be a lucky few that will make good in a difficult economic climate. I have had a bad two years in construction but just recently made a killing out of struggling small builders looking for, and paying through the nose for consultants to get them through pre-tender qualification documents to enable them to tender for Police emergency repair contracts, Local Authority work, National Trust contract and the like. Sad thing is even once pre-qualified they are still unlikely to win the contract.
Thing is, the recession will actually produce the odd winner (eg Hyundai Salesmen, money for gold and short term credit companies). I get the feeling Hairshirt-Nick will resent the very odd winner with a vengence. Especially if their not that bright.
Re: New car sales 'down in 2010'
I know a lad who works for Hyundai, he's really loving life, he's never earned so much!
It's like the taps have been turned off for a lot of other dealers though.
Re: New car sales 'down in 2010'
Yup I got the impression he was doing well. He was a young lad and seemed to be really enjoying the buzz of the showroom being so busy.