Better forecasts for 2010 van and car registrations following strong first quarter.
The forecast for 2010 car and van registrations has been upped by 107,000 units since the last projection made in January and is reflective of increased confidence and stability and a sustained level of consumer demand, according to the the Society of Motor Manufacturers and Traders (SMMT).
The 5.6% and 7.7% increase in expected car and van registrations respectively has been hailed as a positive sign for industry but the SMMT added that the 2010 forecast is still 3.6% less than 2009. Van registrations are likely to show the most improvement over 2010 compared to the previous year, with suggestions of 8.6% growth as a result of greater business confidence.
SMMT chief executive Paul Everitt (pictured) commented, "SMMT's latest forecasts reflect the better than expected results in the first quarter and improving consumer confidence. The coming months will be challenging now that the scrappage scheme has ended, but industry remains cautiously optimistic. Sustaining the economic recovery and improving access to more and better priced finance for businesses and consumers should be the priority for any new government."
