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Bad news for car finance registrations

And so the bad news continues as The Society of Motor Manufacturers and Traders (SMMT) have announced that new car sales dropping by 7.4% to 137,746 during April.

And so the bad news continues as The Society of Motor Manufacturers and Traders (SMMT) have announced that new car sales dropping by 7.4% to 137,746 during April. The news, however, is just above the industry’s predications, so that takes the sting off the downfall a little.

The drop is still being linked to the ending of the government’s scrappage scheme, and the car finance forecast by the SMMT is still looking accurate.

Chief Executive at the SMMT, Paul Everitt, said: “New car registrations in April demonstrated continued stability in the marketplace, with demand remaining lower than in 2010, although slightly ahead of industry expectations.”

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