The UK’s year-on-year new car sales were up 31.6 per cent in October, a rise contributed to the continued success of the country’s scrappage incentive scheme.
Official SMMT figures released today reveal that sales were up for the fourth consecutive month, with around one in five new cars being sold under scrappage.
Paul Everitt, SMMT chief executive, said scrappage had helped stabilise the UK car industry and customers were taking advantage of the scheme while they can.
“We have seen additional demand created by the extension of the scheme and customers wanting to avoid the VAT increase planned for January,” he said.
Private demand for new cars saw a sharp rise last month of 86 per cent, while Everitt said there had also been significant growth in the business and fleet sales sectors.
Year-to-date new car registrations are still down 12.3 per cent on last years levels, however, to 1,685,981 units.
Elsewhere in Europe, German registrations were up 24 per cent in October despite the country having no scrappage scheme. Spanish sales were up 26.4 per cent, French sales were up 20.1 per cent and Italian sales saw a 15.69 per cent increase.