06/11/2009
new car sales rose 32 pct in October
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New car sales in Britain rose 32 percent in October year-on-year with the fourth consecutive monthly rise being helped by a government incentive scheme, the Society of Motor Manufacturers and Traders said on Thursday. The industry body said 168,942 cars were sold last month. "October has seen this year's biggest monthly increase in registrations with the successful scrappage scheme accounting for over 20 percent of them," SMMT chief executive Paul Everitt said on Thursday. The government introduced a scrappage scheme earlier this year which effectively gives drivers 2,000 pounds ($3,300) to trade in cars more than 10 years old against a newer model. The scheme, co-funded by the car industry, has proved popular and the government agreed last month to boost funding for the venture to include an additional 100,000 vehicles. Demand was also boosted by customers wanting to avoid the planned increase in VAT sales tax in January,
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