The Society of Motor Manufacturers and Traders (SMMT) say that the government ‘car scrappage‘ initiative has been a great success, with demand from private buyers improving for the first time since November 2007.
While new car registrations are still well below pre-crisis figures, new car sales for June 2009 stood at 176,264 compared to 209,190 for June 2008.
Paul Everitt, chief executive of SMMT, says:
“We are now beginning to see the positive impact of the scrappage scheme translate into new vehicle registrations. SMMT expects the pace of improvement to increase in the coming months, but we can already see the industry making steady progress on the long road to recovery.”
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