SMMT revises car and van registration forecasts

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, to reflect the positive impact that the Scrappage Incentive Scheme is having on new car registrations.

Total new car registrations are anticipated to be down 9.6% for the full year with a further decline expected in 2010. The outlook remains challenging for vans but stability should occur over the next 12 months with further recovery in 2011 but volumes will remain 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. SMMT’s latest forecasts confirm that the recovery remains fragile and government needs to continue to give priority to measures that support consumer and business confidence.” said Paul Everitt, SMMT chief executive.