It is reported that new car sales are down nearly nine per cent from one year ago. The introduction of registration plates with the digits “60’ failed to aid the decrease in sales. Most responsible for the slide is the stoppage of the scrappage plan. Cash-for-bangers had absolutely boosted the industry to what some are now claiming were artificial levels.
It seems that after taking away the scrappage scheme, there was nowhere for sales to go but down. This has also proven true with private car sales. Private car sales are reportedly down nearly twenty per cent from last year. Private sales had earlier led all car sales overall. The downtrend simply validates the fact that households are not purchasing the large ticket items.
It is still expected that 2010 will finish out just slightly in front of last year on new car sales, how isn’t exactly clear to anyone.