10.8% Increase in car sales
07 July 10
As a leading motor trade insurance broker Staveley Head was pleased to read in the press some positive news for the motor trade industry, with a report from the Society of Motor Manufacturers and Traders (SMMT) showing an increase in new car registrations.
SMMT’s industry figures have shown 195,226 new cars were sold and registered in June, which is higher than the Society of Motor Manufacturers and Traders had predicted. SMMT chief executive said the figures came as a surprise as like many, a difficult month was anticipated due to the scrappage scheme coming to an end.
On what the remainder of the year holds for the car industry Mr Everitt commented:
“I think the next six months are still going to be a very tough time for us. We would expect to see some dip following a buoyant first half of the year,”
He also spoke of how he thinks the VAT increase will affect things towards the end of the year:
“Perversely the increase in VAT that is scheduled for the beginning of January 2011 may actually give us a bit of stimulus towards the end of the year as people try to avoid that increase in cost.”
A 25 per cent increase in fleet sales is said to of helped boost registrations taking the January to June 2010 new car figures up 19.9% to 1,208,662. This may have been due to the fact that this time last year there was a big rush in scrappage scheme vehicles and private vehicles being sold that could possibly have crowded out some of the fleet market.
King of cars was the Vauxhall Astra which became the best selling model for the first time since February 2008 followed by the Vauxhall Corsa coming a close second and the Ford Fiesta claiming third place.
Staveley Head is a leading provider of Motor Trade Insurance in the UK.
For more information regarding this article, or to compare Motor Trade Insurance quotes, contact Staveley Head on 0845 017 9991.
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