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· New car registrations were up 31.6% in October to 168,942 units
· Year-to-date registrations at 1,685,981, down 12.3%
· Fourth month of growth sustained by the Scrappage Incentive Scheme (SIS)
· Private demand up 86% in the month, further supporting positive impact of SIS
“October has seen this year’s biggest monthly increase in registrations with the successful scrappage scheme accounting for over 20% of them,” said Paul Everitt, SMMT chief executive. “We have seen additional demand created by the extension of the scheme and customers wanting to avoid the VAT increase planned for January. Encouragingly, there has also been an increase in demand in the fleet and business sectors, which will be critical in sustaining recovery next year.”
For more detailed charts and documents, please see the attached.
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