Rise in New Car Purchases
The section of society purchasing new cars rose by 1.8% in 2010 according to industry reports and data.
The Society of Motor Manufacturers and Traders (SMMT) reported that there were 2,030,846 new registrations in the year which is a rise of 35,847.
There was a rise in demand for fleet vehicles of more than 10% but the same data showed that there was a decrease in private purchases which is linked to the end of the scrappage scheme.
The SMMT went on to warn that it expected these sales figures to slip by "up to 5%" as difficult market and economical conditions continue to affect the UK.
Phil Everitt, SMMT Chief Executive said that 2010 had been "a year of recovery for the motor industry" and added:
"Economic conditions remain extremely challenging, but industry expects demand to strengthen in the second half of the year," he added.
"Competition in the retail sector will intensify as the industry seeks to rebalance demand across its new and used car and service and repair business."
Share this..
Related stories
Is The UK Now Suffering From Migrants Returning Home?
Over the last few years the subject of migrants flocking to the UK from the likes of Poland has been at the centre of much controversy and debate. When the UK economy was going well there were complaints that many of these new visitors to the UK were taking much needed employment and causing problems for the domestic work force. However, after a period of sustained growth for the UK economy it s...
Read MoreSurely deflation will assist with the cost of living?
On the surface there are many in the UK who may initially welcome a bout of deflation to take away significant cost of living increases which have been experienced over the last few years. However, it is easy to forget that while the cost of products and services may well decrease on an ongoing basis it is inevitable that average incomes will fall and more and more people will be pushed into unemp...
Read MoreMoody's positive on UK
Moody's, one of the best-known credit rating agencies in the world, has today reiterated the UK government's goldplated credit rating. In many ways this is a rubberstamping of the government's announced budget cuts for the public-sector although there was a sting in the tail with the credit rating agency also suggesting that if proposed public-sector budget cuts are not implemented then the goldpl...
Read MoreFashion group Alexon rejects bid approach
Alexon, the fashion clothing group which owns brands such as Ann Harvey and Bay Trading, has today announced receipt of an unsolicited approach for the business. While the offer has been rejected out of hand and no details of the proposed terms released many believe this is a sign that investment capital is returning to the market and the UK retail sector could be over the worst.
Wh...