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New Car Sales See First Drop For A Year

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http://www.bbc.co.uk/news/business-10878313

New car sales fell in July, the first drop in a year, the Society of Motor Manufacturers and Traders has said.

New car registrations were 136,446 last month, down 13.2% from a year ago, the trade body said, with the end of the car scrappage scheme and the fragility in the economy blamed.

However, so far this year, new car sales remain 15% higher on the same period last year.

The SMMT said it expected more than two million new cars to be sold in 2010.

Paul Everitt, the SMMT's chief executive, said July's fall was not a surprise.

"A drop in private registrations compared to the scrappage-fuelled months of 2009 was expected," he said.

"Subdued consumer confidence and a still-fragile economic recovery make the outlook for the remainder of 2010 challenging, but a stronger-than-expected first half means full year volumes are still forecast to exceed 2009's total."

Spending squeeze

Last year, just under two million new cars were sold in the UK, with the car scrappage scheme significantly boosting sales following its introduction in May.

The scheme came to an end in March this year, and helped to sell at least 330,000 cars.

Can someone explain how you can have car registrations down 13% YoY but yet new car sales remain 15% higher than in the same period last year?

I have no idea how that can be possible. Do people buy cars and not register them?

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http://www.bbc.co.uk/news/business-10878313

Can someone explain how you can have car registrations down 13% YoY but yet new car sales remain 15% higher than in the same period last year?

I have no idea how that can be possible. Do people buy cars and not register them?

Dealers buy new cars and don't register them. There were some nissan skylines which were registered 2009 but were actually the 2007 model as they were sitting in shipping containers.

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Can someone explain how you can have car registrations down 13% YoY but yet new car sales remain 15% higher than in the same period last year?

What they mean is that sales for Jan-July 2010 are 15% higher than Jan-July 2009.

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What they mean is that sales for Jan-July 2010 are 15% higher than Jan-July 2009.

to clarify, they are comparing a period, with the current YOY.

so, as predicted and bleedin obvious, remove the subsidy of bangers and cash, and people stop buying, so sales drop...but YTD, its still up.

In America, they have ended the $8000 credit for homebuyers...prices immediately dropped $8000.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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