SMMT increases car and van registration forecasts

-6.4% 1.7% 2,062,000 SMMT revises its forecasts on a quarterly basis with a panel of industry market analysts. The next forecast is due in July 2010. Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) Despite the revised figures showing a greater number of registrations than first anticipated in January this year, the full year car figure is still 3.6% down on 2009 levels. Largely unaffected by the scrappage incentive, van registrations are set to be about 8.6% up on 2009 reflecting greater business confidence. ·         Industry increases its forecasts for 2010 car and van markets.·         Total new car registrations are anticipated to dip 3.6% to 1.9 million. ·         Total new van registrations should rise by 8.6% over 2009 levels. 2010Jan Forecast 186,386 2011Forecast 1,817,000 1,994,999 UK new car and van registration volumes 2009 to 2011 % change on previous year 2009Full-year 187,600  SMMT chief executive Paul Everitt said, “SMMT’s latest forecasts reflect the better than expected results in the first quarter and improving consumer confidence. The coming months will be challenging now that the scrappage scheme has ended, but industry remains cautiously optimistic. Sustaining the economic recovery and improving access to more and better priced finance for businesses and consumers should be the priority for any new government.” 202,000 New vans New cars -3.6% 1,924,000 2010 AprilForecast SMMT today announced an improved forecast for 2010 registrations, increasing its outlook by 107,000 units since the last projection made in January this year. The 5.6% (car) and 7.7% (van) increases in expected annual totals is a positive sign for industry, reflecting increased confidence and stability and a sustained level of consumer demand. 5.4% -8.9% 8.6% Forecasts for 2010 full year car and van registrations have been increased by the Society of Motor Manufacturers and Traders (SMMT) following a better than anticipated first quarter. 234,000 216,000 -35.6% 0.7% 1,957,000 % change on previous year 8.3% 2012 Forecast 6.9%