Scrappage scheme hits car figures
19th August 2010
More and more drivers could soon be looking out for car insurance if purchases increase in line with vehicle production, which has risen by 41.7% in the first seven months of 2010.
While the overall trend is upwards, figures for July produced by the Society of Motor Manufacturers and Traders (SMMT) show an 8.9% drop in car production compared with 2009, although 10.7% more commercial vehicles were built.
The fall for the month was predicted by experts, as more people were buying cars last year thanks to the success of the car scrappage scheme.
The Government initiative saw more people seeking the best car insurance deal to protect their shiny new cars after a cash incentive was used to entice motorists to trade in their old bangers.
Looking ahead at the prospects for the industry, SMMT chief executive Paul Everitt said: "While we expect some challenging conditions, economic growth has returned in all major markets around the world."
Copyright © Press Association 2010
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