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More good news for car sales and finance.

It seems all the predictions are coming true. New data according to the Society of Motor Manufacturers and Traders (SMMT) has shown that more than 1.2m new cars were registered in the first six months of 2010.

It seems all the predictions are coming true. New data according to the Society of Motor Manufacturers and Traders (SMMT) has shown that more than 1.2m new cars were registered in the first six months of 2010.

This means that both car sales and car finance are on the rise, and it also shows the steady growth since the ending of the government’s scrappage scheme – which analysts thought would hamper the rise in sales.
 
Paul Everitt, SMMT chief executive, states: 'Like many, we were anticipating that this would be a difficult month because of the end of the scrappage scheme.'
He continued to say: 'I think the next six months are still going to be a very tough time for us. We would expect to see some dip following a buoyant first half of the year.

'Perversely the increase in VAT that is scheduled for the beginning of January 2011 may actually give us a bit of stimulus towards the end of the year as people try to avoid that increase in cost.'

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