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New car sales rise 13.5%
New car sales in the UK increased 13.5% in May compared to the same month last year, according to the Society of Motor Manufacturers and Traders (SMMT).
There were 153,000 new cars sold in May compared to 134,000 in May last year. This is the 11th successive month that new car sales rose.
However, the SMMT have warned that the rise may tail off due to ending of the car scrappage scheme.
The scheme - which offered new car buyers a £2,000 discount if they scrapped a car that was more than 10 years old - finished at the end of March.
The SMMT said almost all scrappage orders had now been delivered, with only 2.7% of sales in May coming through the scheme. That compares with an average of 17% a month since the scheme started.
"It is essential that the upcoming emergency Budget promotes consumer and business confidence to maintain economic recovery," said Paul Everitt, SMMT chief executive.
Post Date: June 4th, 2010
There were 153,000 new cars sold in May compared to 134,000 in May last year. This is the 11th successive month that new car sales rose.
However, the SMMT have warned that the rise may tail off due to ending of the car scrappage scheme.
The scheme - which offered new car buyers a £2,000 discount if they scrapped a car that was more than 10 years old - finished at the end of March.
The SMMT said almost all scrappage orders had now been delivered, with only 2.7% of sales in May coming through the scheme. That compares with an average of 17% a month since the scheme started.
"It is essential that the upcoming emergency Budget promotes consumer and business confidence to maintain economic recovery," said Paul Everitt, SMMT chief executive.
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Post Date: June 4th, 2010
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