car news headlines
The impact of the government's scrappage scheme for used cars has yet to have a significant impact on the new car market, it has been claimed.
According to figures from the Society of Motor Manufacturers and Traders (SMMT), there has been little upturn in sales of new cars since the initiative was launched, but experts are predicting that things will change over the coming months.
"The vehicle scrappage scheme introduced last month should have a significant impact on car sales as we go forward, but it is still too soon to see its true effect," said Sue Robinson, director of the RMI National Franchised Dealers Association.
While the new car market remains sluggish even with the scrappage scheme in place, the used car sector continues to do well.
Recent figures have suggested the used car market will continue to see growth in average prices over the course of this year after some dramatic falls in the final months of 2008.
Chancellor Alistair Darling introduced the scrappage scheme in a bid to boost the sales of new cars in the UK.
The initiative offers drivers of old cars up to £2,000 off a newer, more environmentally-friendly model if they are willing to trade in their existing vehicle for scrap.
More from Motoring
Car Sales Slowing but Creditplus Car Finance Continues to Grow
Sep 2 2010Throughout the last 12 months, Britain’s car market has exceeded their expected sales, having 12 successive monthly rises since 2009.
More from Financial and Loan Motoring
Fords Explorer launch in 2011
Aug 29 2010Ford has been pretty active in coming out with new models and the good news is that the market has also been responding positively to these models with many consumers buying them outright or through some car finance or car loan scheme.
The Range Rover Evoque
Aug 28 2010The Range Rover Evoque is a very cute and compact SUV and though not many details are clear, it will feature a 2.
Honda’s hybrid introductions
Aug 28 2010Honda in keeping with the consumer shift in sentiment towards smaller cars and particularly hybrid varieties has indicated that it will introduce many models that will focus on speed, lower CO2 emissions as well as affordability.
Honda’s hybrid introductions
Aug 28 2010Honda in keeping with the consumer shift in sentiment towards smaller cars and particularly hybrid varieties has indicated that it will introduce many models that will focus on speed, lower CO2 emissions as well as affordability.
Toyota’s new legal problems
Aug 27 2010Well, what can one say? If a reputed car maker like Toyota which has been setting benchmarks in safety, environment consciousness and high quality is facing so many problems regarding its vehicles, then one shudders what is in store for lesser mortals.
Audi’s phase out of the RS6
Aug 27 2010Though it is now clear that the Audi RS6 is on its way out and this car has had its fair share with many consumers buying it taking advantage of the various car finance credit plans in operation at those times.
Car finance when you are bankrupt
Aug 24 2010It is indeed difficult to pick up the pieces post bankruptcy and your credit history is the one that is hit the greatest.
More from Motoring TOYOTA Financial and Loan
Peugeot’s 508
Aug 23 2010The details about Peugeot 508 have been now officially released and many marketing as well as car experts are touting this vehicle to be absolutely superb with typical French exterior styling.
Nissan facing a marketing battle
Aug 23 2010Turf wars and one-upmanship is quite common in the extremely competitive auto industry and we have had a number of heated marketing battles involving some top brands.
