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Positive news for automotive industry although real test is still to come |
Responding to July’s new car registration figures David Raistrick, UK Manufacturing Leader at Deloitte commented:
“July’s 2.4% rise in new car registrations is positive news for the automotive industry, reflecting growing confidence and the impact of the scrappage scheme. However the critical test for the industry will be when the new registration figures for September are released.
“The fact that scrappage accounted for 21% of July’s new car registrations demonstrates the enormous impact of the scheme. An overall increase of just over 3,700 units in July compared with last year, when 33,026 units are attributed to scrappage, again highlights this point. With this in mind the danger is that the industry could suffer another sudden downturn due to the scheme ending.
“I urge the Government to reconsider its decision and extend the scrappage scheme. The UK car market needs ongoing incentive schemes such as scrappage to stimulate a further recovery. Concern has already been expressed in Europe where the German, Italian and French markets fear they will suffer from the cessation of their scrappage schemes. It is evident that the US market has been buoyed in the past fortnight with the announcement of their scrappage scheme.
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