New car market expands 26.4% in February
Friday, March 5, 2010 17:08February experienced a number of leaps in the new car market which suggest that the automotive industry as a whole is performing strongly.
New figures published by the Society of Motor Manufacturers and Traders (SMMT) show that this sector grew by 26.4 per cent last month, rising to 68,686 units.
While both sectors exhibited growth, private buyers outstripped companies looking for vehicles, suggesting this pattern could carry across to the second-hand and car salvage markets.
Paul Everitt, chief executive of the SMMT, attributed some of this performance to the scrappage scheme, although he said it is likely to continue beyond the end of this initiative.
He said: "Industry continues to face challenging market conditions, but positive trends in the fleet and business sectors suggest that negative impacts can be minimised."
Earlier this week, the Retail Motor Industry National Franchised Dealers Association’s Dealer Attitude Survey highlighted a growing degree of confidence among car dealers.
