The official figures are in for December 2009 and are they’re up 38.9% on a very weak December 2008 (down 21.2% on 2007) with 168,942 units being registered. Obviously the scrappage scheme is still having a massive impact with 20.8% o December registrations being down to the scheme. The question everyone is asking is can the industry sustain itself when the scheme draws to a close?
· New car registrations rose in December by 38.9% to 150,936 units.
· Full year registrations down 6.4% to 1,994,999 units, the lowest level since 1995.
· Overall The scrappage scheme has accounted for over a fifth of all new car registrations
· Average new car CO2 emissions fell by 5.4% on the 2008 level to 149.5g/km in 2009.
“The December new car market was boosted by the Scrappage Incentive Scheme and consumers looking to avoid January’s VAT increase,” said Paul Everitt, SMMT chief executive. “The 2009 market of 1,994,999 new car registrations was significantly above early expectations and reflects the positive impact of the scheme, due to end in February.
“Another tough year awaits the UK motor industry in 2010, with new car registrations expected to be below 2009 levels and only limited recovery in the van and heavy commercial vehicle markets. Sustaining the progress made in the latter part of 2009 will require stronger demand from fleet and business buyers, alongside the greater availability and affordability of credit and finance,” he continued.
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More here…(BBC Business News)