New Car Market Remains Strong With Scrappage

New Car Market Remains Strong With Scrappage

Scrappage continues to give a boost to the market with private buyers in particular returning to the showrooms. The decision to let the scheme continue until the end of March will continue to provide relief for sales in the first quarter of 2010.’ Commented RMI Director, Sue Robinson, representing new car dealers, in the wake of new car sales figures for February 2010 released today.

New car sales for February 2010 announced today, show that new cars sold in the month were 26.4 per cent up on February 2009*, the eighth consecutive monthly increase.

Latest Government figures show that 367,506* new vehicles have been ordered through the scrappage scheme since it went live. 19.6 per cent of February sales were part of the scrappage scheme.

Robinson continued, ‘The scrappage scheme has tempted private buyers back into the new and used car market. However, the business market is still fragile with many fleet and business operators delaying the replacement of vehicles, though the beginning of 2010 has seen some positive signs in this sector with the fleet market up 17 per cent.

‘The small car sector has done particularly well under the scrappage scheme and from s customers looking for value for money vehicles; this can be seen with marks such as Kia and Hyundai doing particularly well.

‘The continuing outlook for 2010 is set to be challenging with a level of uncertainty being caused by the imminent general election, it is likely that tax rises, public spending cuts and the end of the scrappage scheme in March will make consumers more cautious in their spending, certainly in the shorter term.’

Source:http://www.rmif.co.uk/index.php?op=news&id=27

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New Car Market Remains Strong With Scrappage

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