FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

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

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue