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New car sales in the UK rose for the second straight month in August boosted by the car scrappage scheme, data released by the Society of Motor Manufacturers and Traders Limited showed Friday.
New car registrations rose 6% year-on-year to 67,006 units in August, quicker than the 2.4% increase in July. Registrations from private buyers and of small cars were again up strongly in August. The increase in July was the first since April last year.
"The scrappage incentive scheme is having a positive impact but with consumer and business confidence still fragile, there remain significant risks ahead," SMMT chief executive Paul Everitt said. It is essential that these early signs of recovery are sustained into 2010, he added.
In a separate report, the SMMT said 102,071 vehicles have been registered under the scrappage scheme since its start. Scrappage accounted for 25.1% of August new car registrations with 16,848 units.
The UK car scrappage scheme offers GBP 2,000 incentive to motorists who scrap their cars over ten years old to buy a new one. This scheme will last until end February 2010, or until government funding has been used. GBP 300 million was set aside for the scheme.
Automakers now fear that sales may resume fall once the government ends incentive scheme.
On September 2, Germany ended its EUR 5 billion scrappage scheme following the U.S ., which ended its $3 billion cash-for-clunkers scheme on August 24.
France was the first country to implement the scrappage scheme in December last year.
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