August figure show a massive decline for motor industry
The UK Society of Motor Manufacturers and Traders Ltd
, SMMT have recently announced a 17.5% fall in sales during the month of August this year.
SMMT data has revealed a massive 17.5% decline in new cars registrations because dealers have lost out due to the effects of the scrappage scheme in recent years.
Only 55, 305 new cars were registered last month which compared to last year's numbers rank poorly. However SMMT has been forecasting that new car registrations will close just ahead of the 2009 figures and that, even then, the volumes for this year will remain up over 13% so far.
By the end of this year the figures are expected to have fallen again to 1.2%. The reason for this overall reduction is a fall in consumer confidence and a hesitation to buy a new car as the majority of people are waiting for the Government to review its spending and tax policy in order to see how this would affect them.
It would seem that there is not just the wait on the Government that could have an effect on sales this year but also that regional variations may occur within the figures as some areas have had a higher percentage of job cuts than others and people within the last couple of years have really pulled in their spending.
The UK Society of Motor Manufacturers and Traders Ltd have also warned that they do not need to see manufacturers supporting the market by encouraging large scale cars for salepre-registration exercises.