New car sales at the lowest level since 1991

08th May 2009

The number of new cars sold in the UK fell to the lowest level since 1991, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). UK car sales dropped 24% in April compared with the same month last year and this fall means that new car sales have now declined for eleven consecutive months. Last month's Budget included a car scrappage incentive scheme where £2,000 will be paid to motorists who scrap cars registered before 31 August 1999 to buy a new car. This money will be equally provided by the government and the car industry. The scheme has been introduced in a number of European countries where it has boosted sales, but it will not be implemented in the UK until May 18th.

Source: Newbusiness.co.uk  www.newbusiness.co.uk/news/new-car-sales-lowest-level-1991