The figures are in for May 2009 and are down just under 25% with 134,858 units being registered (very similar to April). All lot of hope is still pinned on the scrappage scheme, which started on May 18th, to restore volumes but has yet to translate into registrations.
· New car registrations fell 24.8% in May to 134,858 units
· Scrappage scheme brings orders, but it will take time to translate into registrations
· Registrations over first five months of 2009 down 289,598 units or 27.9%
· Mini segment continues to buck overall market trend and reported further growth
“While consumer confidence is improving, the UK motor industry is still facing a difficult economic climate,” said SMMT chief executive, Paul Everitt. “We have seen an encouraging start to the scrappage incentive scheme with 35,000 orders being placed since it was announced, although it will take time to feed into registration figures.”