Soft interest rate regime and discounts offered by manufactures pushed demand in the automobile segment in UK with new car registration in the country witnessing 39 percent rise on year-on-year basis. However, prospective tightening of monetary policy has prompted industry leaders to forecast decline in car sales this year.<\/p>\n
Paul Everitt, Chief Executive of the Society for Motor Manufacturers and Traders, expressed, “Another tough year awaits the U. K. motor industry in 2010, with new-car registrations expected to be below 2009 levels and only limited recovery in the van and heavy commercial vehicle markets.”<\/p>\n
Everitt said that rise in demand by fleet and business buyers is very urgent for the current year to see sustainability in car sales growth. In addition, the availability of easy finance would play a crucial role to push demand across the segment.<\/p>\n
Meanwhile, total of 150,936 vehicles were registered in December compared to 108,691 for the corresponding period last year. Overall registration declined 6.4% in 2009 to 1,994,999 vehicles. The current year is expected to witness decline in vehicle registration to 1.8 million, according to market analysts.<\/p>\n","protected":false},"excerpt":{"rendered":"
Soft interest rate regime and discounts offered by manufactures pushed demand in the automobile segment in UK with new car registration in the country witnessing 39 percent rise on year-on-year basis. However, prospective tightening of monetary policy has prompted industry<\/p>\n