The figures are in for July 2009 and are they're up 2.4% with 157,149 units being registered . Obviously the scrappage scheme is now revealing it's true impact, but with the scheme mostly attracting buyers of smaller, low margin vehicles what will be the long term effects on profitability?
From SMMT:
· New car registrations rose 2.4% in July to 157,149 units
· First growth in 15 months
· Registrations from private buyers and of small cars were up in July
· The market is still down almost 550,000 units over the past 12 months
“The impact of the scrappage scheme is clear and we are encouraged by the positive impact it has had, increasing new car registrations for the first time since April 2008,” said Paul Everitt, SMMT chief executive.
“Industry still faces a long road to recovery and we urge government to take action to sustain economic recovery through easing access to finance and credit and delivering the loan guarantees set out by the Automotive Assistance Programme.”
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