Feb Car registrations better than expected

New car registrations fell less than expected in February, dropping just 7.7% to 63,424 units over the same period last year.

However the Feb 2010 figures were inflated by Scrappage scheme related sales, so these figures are not so bad and February only accounts for around 3% of annual sales anyway,as buyers wait for the March plate change.

The first 6 months figures are expected to be down by just over 8%  before picking up in the latter part of the year.

Paul Everitt, SMMT Chief Executive said.

“The UK motor industry is looking for a strong March market to help boost confidence and kick start demand for the new 11-plate. February new car registrations were better than expected and whilst below 2010 levels, they were significantly ahead of 2009 and on an improving trend,” said Paul Everitt, SMMT Chief Executive. “This month’s Budget will be critical in determining consumer and business confidence and the ongoing stability of the market. We’re looking for certainty on motoring taxes, a freeze on fuel duty and measures that support business investment and access to finance and credit.”