News Tag: car sales
February 4, 2010
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 29.8% in January compared with the same month in 2009, boosted by the Government’s scrappage scheme.
The £400 million initiative, which was launched last May to boost the ailing car industry, pays drivers of cars at least 10 years old £2,000 off the price of ...
Car sales up 30% in January
by Kay Murchie
January 21, 2010
China‘s economy, which is currently the world’s third largest, saw double digit growth in the fourth quarter of 2009 and the economy is now on target to surpass Japan and become the world’s no.2 economy.
The economy expanded by 10.7% in the final quarter of 2009 compared with the same period a year earlier.
Meanwhile, the economy grew by 8.7% ...
Chinese economic growth exceeds Government expectations
by Kay Murchie
January 15, 2010
Figures published by the European Automobile Manufacturers Association revealed a rise in European car sales of 16% for the month of December.
However, on an annual basis, 2009 sales were down 1.6% compared with 2008, according to the Association.
In order to boost the ailing car industry, many countries have implemented a scrappage scheme which allows consumers to trade in their old car.
The ...
Scrappage scheme benefits European car market
by Kay Murchie
January 11, 2010
Car sales in China surpassed the US in 2009 and, as a result, became the world’s largest car and van market.
The announcement comes just a day after it was revealed that China, which is the world’s third largest economy, overtook Germany as the world’s biggest exporter.
The China Association of Automobile Manufacturers today said 13.6 million vehicles were ...
Car sales in China accelerate and take over US
by Kay Murchie
December 21, 2009
Minister of Industry and Information Technology Li Yizhong said China’s Government is targeting economic growth of around 8% in 2010.
In a bid to boost China’s economy, which is the world’s third largest, the Government embarked on a massive stimulus package of infrastructure projects to create jobs.
The stimulus package appears to have been successful after the economy continues ...
Analysts say China’s growth target of 8% can be achieved
by Kay Murchie
December 4, 2009
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 57.6% in November compared with the same month in 2008, boosted by the Government’s scrappage scheme.
November also represented the fifth consecutive monthly rise. July saw the first monthly rise, prior to that there were 15 successive months of decline.
The scheme pays ...
New car sales continue to rise in November
by Kay Murchie
October 6, 2009
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 11.4% in September compared with the same month in 2008 boosted by the Government’s scrappage scheme.
According to the SMMT, there were 367,929 new car registrations during the month as motorists continued to take advantage of the ‘cash for bangers’ scheme.
The scheme, which was ...
SMMT reveals increase in new car sales
by Kay Murchie
UK industrial output in surprise fall
by Kay Murchie
September 4, 2009
The Society of Motor Manufacturers and Traders (SMMT) has today revealed a further rise in car sales as a result of the Government’s car scrappage scheme.
The scheme, which was launched on 18 May to boost the ailing car industry, pays consumers £2,000 to get rid of their old cars and replace it with a more environmentally friendly car.
According to ...
Scrappage scheme continues to be a success
by Kay Murchie
August 6, 2009
The Bank of England has elected to keep interest rates unchanged at 0.5% today for the fifth month in a row.
Rates currently stand at the lowest level since the Bank was established over 300 years ago.
Meanwhile, the Bank has announced plans to increase its quantitative easing (QE) programme to £175 billion - a rise of £50 billion.
QE, also known ...
UK interest rates remain unchanged at 0.5%
by Kay Murchie
July 9, 2009
The China Association of Automobile Manufactures has announced strong car sales for the economy, helped by Government incentives such as subsidies to trade in older vehicles.
According to the Association, car sales surged 36.5% in June compared with the same month last year, to 1.14 million vehicles.
Sales reached 872,900 vehicles in June - the largest increase in more than ...
China car sales jump 48% on year
by Kay Murchie
July 6, 2009
Figures released by the Society of Motor Manufacturers and Traders (SMMT) today have provided some good news for the car industry, which has been suffering amid the economic downturn.
The SMMT said “We are now beginning to see the positive impact of the scrappage scheme translate into new vehicle registrations."
The UK’s scrappage scheme was introduced on 18 May and ...
Scrappage scheme provides boost to ailing car industry
by Kay Murchie
July 2, 2009
“The Big Three” US carmakers reported a slump in sales in June compared to the same month last year.
General Motors (GM) said sales fell 33.6%, while Chrysler sales declined by 42%.
However, Ford, which is the only one of the three not to have gone bankrupt, said sales were down 10.9% compared with a year earlier - a much smaller ...
US car makers see fall in sales
by Kay Murchie
June 4, 2009
The latest figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed that car sales in the UK fell by almost 25% in May, compared with the same month in 2008.
The number of new cars sold during May was 134,858 and represents the 13th consecutive monthly fall in UK car sales.
However, the SMMT points out that the ...
SMMT: Car sales fall for 13th consecutive month
by Kay Murchie
May 11, 2009
Car sales in China rose 37% in April, boosted by tax incentives.
The rise in sales means China has now overtaken the USA to become the world’s largest automotive market, after total vehicle sales increased by a quarter to 1.15 million.
In a bid to revive flagging car sales, the Chinese Government announced buyers of smaller cars would receive a tax ...
China car sales boosted by tax incentives
by Kay Murchie
May 3, 2009
The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars and this is still the case for US carmakers after Chrysler reported a 48% decline in April sales compared with April 2008.
Sales at Ford were down nearly 32% while General Motors (GM) sales were down 34%.
The latter, along with Chrysler, have been instructed by ...
US car sales plummet in April
by Kay Murchie
April 7, 2009
UK carmakers, Jaguar Land Rover and Nissan, have today received £720 million worth of funding, in return for investing in cutting vehicle emissions.
The funding was approved by the European Investment Bank (EIB), the EU's main source of long-term lending, and is the first such package provided to any carmaker.
Jaguar Land Rover was awarded £340 million (€366 million), while Nissan was ...
UK carmakers receive funding for fuel-efficient vehicles
by Kay Murchie
April 6, 2009
Figures released today by the Society of Motor Manufacturers and Traders (SMMT) have revealed yet another fall in new car sales.
The SMMT said 313,912 new vehicles were registered in March 2009 - a fall of 30.5% compared with March 2008’s figure.
Paul Everitt, SMMT chief executive, said the continued fall in the market shows that “the Government needs to do more ...
UK car sales plummet 30% on year
by Kay Murchie
March 3, 2009
Official figures from the VDA have revealed that sales of new Germany cars rose by 22% compared with the same month in 2008 - the highest February sales for a decade.
A total of 277,800 vehicles were sold in Germany during the month after a Government incentive scheme offered consumers €2,500 (£2,236) to scrap their old car ...
Car sales rise in Germany but Ford and Toyota report falls
by Kay Murchie
