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New car sales rebound in March
Thursday April 8th 2010
Strong new car sales in March have topped off a resurgent start to 2010 which also witnessed the end of the Government's car scrappage scheme.
Sales were up by 26.6% compared to the same month last year fuelled mainly by a dash to take up the stimulus scheme that has sustained the UK motor industry throughout the recession, boosting demand for new car insurance products such as car value protector insurance in the process.
However, the Society of Motor Manufacturers and Traders (SMMT) said the 397,383 new cars that rolled off the nation's forecourts in March is unlikely to be matched in the coming months following the withdrawal of the scrappage scheme which accounted for 12.2% of new registrations last month.
SMMT chief executive Paul Everitt said: "A strong March performance was underpinned by the scrappage incentive and improving demand in the fleet sector. The coming months will remain challenging and headline registration numbers are expected to dip, but underlying demand will continue to improve slowly."
The 26.6% rise in new car sales signalled a return to levels witnessed before the worst of the economic downturn.
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Copyright © Press Association 2010
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