Just a bit of a “heads up” regarding the new car registration figures and the scrappage scheme. According to the SMMT the scrappage incentive accounted for 16,848 of the 67,006 new car registrations in August which in turn led to a shade under six percent rise year on year. Remove the scrappage cars, which are in the most part small, economical lower margin cars and year on year it’s a 20 percent drop. Looking into the figures a little closer it’s soon obvious that Nissan are doing very well indeed. Removing scrappage sales Nissan’s new car registrations for August are still up 36 percent (compared to a 77 percent increase including scrappage). Interestingly the only other car makers still showing a positive increase are Mercedes and BMW with 23 and 14 percent increases respectively.
Hyundai, the undisputed scrappage kings, predictably are not doing so well with these registrations removed with a slightly less than 8 percent drop in registrations year on year which is still out performing the general market.
Kia are actually doing better than Hyundai with a shade under 2 percent drop in sales.
Many manufacturers will now be bracing themselves for the end of the scrappage scheme and all eyes will be on Germany to see if the doubters are correct and the market goes into freefall.
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