New car registrations rose for this August thanks to scrappage deals and leasing offers.
Over the month of August new car registrations rose by 6.0% compared to this time last year. This equates to 67,006 new units being registered.
It follows a productive month in July which saw a rise of 2.4% maing this the first time we have seen consecutive months of growth since the global recession began.
Industry officials have pointed to the scrappage deal as the reason behind the success, which has encouraged many consumers to replace their old cars for newer more efficient cars.
Other motor trade experts believe the car leasing market has contributed. Leasing a new car on a contract hire enables the customer to avoid fixing their assets into a car.
Dave Johnson of Nationwide Vehicle Contracts explains how it is currently better than ever to lease a new car,
"We have never been able to offer such value for money contract hire deals. Low depreciation means we have slashed our car and van leasing deals setting the benchmark for the lowest lease price in the industry."
The SMMT has shown that registrations from of small cars were again up strongly in August.
Mr Johnson explains,
"Small cars are more economical to run so many of our customers are opting to downsize. It helps that we can offer cars like the Nissan Pixo to lease for less than £90 per month."
With the new '59' plate released in September we expect there to be a considerable increase in registrations this month.
“New car registrations in August increased for the second successive month, providing welcome news for the UK motor industry," said Paul Everitt, SMMT chief executive.
"The scrappage incentive scheme is having a positive impact but with consumer and business confidence still fragile, there remain significant risks ahead. It is essential that these early signs of recovery are sustained into 2010.”
E. Dooley
04/09/2009
Related Links
Featured Articles
A rare Ferrari 250 GTO sold for an astounding £20.2 million last week, making it the most expensive car in Britain
Read more about Britain’s Most Expensive Car
09/02/2012
Twenty lucky students at Wilmington Grammar School will build a Caterham Seven sports car from scratch in just 24 school weeks...
Read more about The Great Wilmington Grammar School Build
27/01/2012
The iconic British sportscar manufacturer plan to display an impressive array of vehicles at the Autosport International Racing Car Show
Read more about Caterham Set To Thrill At Autosport International
06/01/2012
Travelling in reverse gear causes £409 million each year in vehicle damage according to new research
Read more about Going Backwards Costing Billions
22/12/2011
As the weather gets colder, is your beloved motor resilient enough to take on its biggest threat? The pothole!
Read more about The Pothole-Proof Vehicle
21/12/2011
Motoring News Archive
There are many practical reasons to leasing a car rather than buying one. Car leasing offers lower monthly payments, lower initial deposit, road tax and breakdown recovery. You also have the opportunity to drive a new car every two or three years and all vehicles include the standard manufacturer’s warranty.
Our leasing deals are powered by Nationwide Vehicle Contracts.
