Figures from the SMMT show that 324,991 new cars were registered through the scrappage scheme by the end of February.
Commenting on the data, SMMT chief executive Paul Everitt said, “The scrappage scheme ends this month and has provided a vital stimulus during a difficult period. The scheme has lifted the market from the lows of early 2009, with around 330,000 registrations by the end of February. Industry must now work to sustain this momentum and is urging government to postpone the introduction of the first year rate of VED and avoid dampening demand while the economic recovery remains fragile.”
The scrappage scheme accounted for 19.6% of all new car registrations in February, on par with the 20.4% share taken over the May 2009 to February period.