Worst Far From Over For Vehicle Sales

After a particularly bad year for new vehicle sales in 2009, when sales were worse than forecast, a recovery still looks far from guaranteed. Total vehicle sales actually ended the year down 26.6%, led by a 34% drop in commercial vehicle sales. Sales of cars under 1.6-litres and taxis fell 24.6%, while sales of cars over 1.6-litres 30.7%. BMI has revised its sales forecast for 2010, given the lower than expected base from 2009. Our revised forecast for new vehicle registrations in 2010 is for a rise of 5% year-on-year (y-o-y), to a total of 93,433 registrations.

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