Official sales forecast up
October 23rd, 2009 by Richard Aucock
CAR sales have been so strong recently, the SMMT has added 100,000 motors to its 2009 sales forecast.
The revision is entirely down to the success of the scrappage scheme.
SMMT chief Paul Everitt said ‘the Scrappage Incentive Scheme has had a demonstrably positive impact on new car registrations in 2009’.
It sees the 2009 forecast for new car sales stand at 1,928,199.
This compares with sales of 2.4 million in 2007, and 2.1 million in 2008. However, it’s not all good news. Neat year, the SMMT predicts a further decline, to 1.7 million vehicles, as the scrappage scheme will draw to a close.
‘Total new car registrations are anticipated to be down 9.6 percent for the full year,’ said a statement, ‘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.’
What was the word from the top? ‘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 Everitt.
The SMMT releases these estimates every quarter. The next set are due in January. We wonder how the market will evolve by then? Will its pessimism be well placed? The next three months will tell…