ERJ staff report (DS)
London -- â€œOctober's new car market rose 2.6 percent on last year - a positive result despite the uncertain economic climate,â€ said Paul Everitt, Chief Executive of the UK-based Society of Motor Manufacturers and Traders (SMMT).
New car registrations rose for the second time in the past year in October. The 2.6 percent growth saw the market up 3,449 units to 134,944. This was almost 7 percent and nearly 9,000 units ahead of SMMT's forecast for the month, but volumes remain almost 20 percent off the level recorded in 2007, prior to recession. October looks set to account for 7 percent of annual volumes, on par with the average share recorded from 1999-2010.
Registrations in October were buoyed by a sharp recovery in the small car markets, with the Supermini segment up 17.4 percent and the Mini segment up 4.7 percent. The Dual Purpose segment also rose on the back of new model launches.
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Press release from SMMT