Car sales on finance up a third on a year ago
18 May 2012
Mon, 10 Aug 2009
Despite reports of a recovery in the car industry last week, some experts caution that green shoots could be artificially inflated, with no real benefits to manufacturers in the UK.
According to skeptical reports in the car finance news, only four of the top car sellers under the scrappage scheme have UK manufacturing bases, whilst many of those benefiting are from Korea and Japan.
The boss of the SMMT (Society of Motor Manufacturers and Traders), Paul Everitt, reportedly commented: Industry still faces a long road to recovery and we urge government to take action to sustain economic recovery through easing access to finance and credit and delivering the loan guarantees set out by the Automotive Assistance Programme (AAP).
The question remains – what happens when the scrappage scheme comes to an end? Although this is scheduled for March 2010, the money could run out much earlier.
