SMMT Raises Forecasts for Car and Van Registration
SMMT Raises Forecasts for Car and Van Registration
In the light of a better than expected first quarter, the Society of Motor Manufacturers and Traders (SMMT) raised the forecasts for full year car and van registrations in 2010.
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SMMT has announced a better than first thought forecast for registrations for 2010, raising its forecast by 107,000 units from an earlier projection that was stated back in January 2010.The estimated increase of registrations for cars (5.6 per cent) and for vans (7.7 per cent) for the year is a positive signal for the industry, showing an increasing amount of confidence and of stability and also stable level of customer demand.
Even though the revised numbers show a greater amount of registrations than was first expected in January of 2010, the car numbers for the full year are still 3.6 per cent off of 2009 levels. For the most part unaffected by the scrappage scheme, van registrations are looking to be 8.6 per cent better than 2009 levels showing a greater level of confidence in the business realm.
The chief executive of SMMT, Paul Everitt commented that the most recent forecast by SMMT shows results that were better than at first anticipated during the first quarter and consumer confidence on the rise. Everitt pointed out that the months to come will be challenging since the scrappage scheme has come to an end, but that the industry is still cautiously holding on to a feeling of optimism. Everitt went on to say that sustaining economic recovery and making improvements in accessibility to more and better finance deals for businesses and for consumers as well ought to take pre-eminence for any new governmental administration.
Article By alex
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