Beating The Vat Increase On New Car Registrations
04/12/2009
New car registrations were up by 57.6 per cent this November, this is compared to the same time last year. Consumers have been rushing to beat the VAT increase which will take place in January 2010, which will rise back up to 17.5 per cent.
The market seems to back up to where is was in around 2007, this comes after the hugh decrease in sales last year. We now seem to be slowly on the rise again after the recession. The car scrappage scheme that was introduced has had a massive positive impact on new car registrations.
This September the government announced a further £100m for Britain's £300m car scrappage scheme, this gives the public another incentive to scrap old cars for new ones. According to government stastics 274,455 new vehicles had been ordered up untill November this year.
The biggest increase has been for new small cars, which is still on the rise.
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