SMMT revises registration forecast

The Society of Motor Manufacturers and Traders has revised its new car registration forecast for 2009 up by 100,000 units since the last quarterly revision in July 2009.

The Society of Motor Manufacturers and Traders (SMMT) has revised its new car registration forecast for 2009 up by 100,000 units since the last quarterly revision in July 2009.

The organisation claims that the revision reflects the positive impact that the UK government’s scrappage incentive scheme is having on new car registrations.

SMMT figures project total new car registrations to be down 9.6 per cent for the full year, with a further decline expected in 2010. It is also expected that the future remains challenging for vans but stability should occur over the next 12 months, with further recovery in 2011 despite volumes remaining below pre-recession levels.

‘The scrappage incentive scheme has had a demonstrably positive impact on new car registrations in 2009 and will continue to do so into 2010,’ said Paul Everitt, SMMT chief executive. ‘SMMT’s latest forecasts confirm that the recovery remains fragile and the government needs to continue to give priority to measures that support consumer and business confidence.’