Car insurance customers stick with cars

Tuesday, 14 September 2010

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Car insurance policyholders appear to be staying with the car they have rather than trading up to a shinier model, according to the latest industry figures for the month of August.

Data from the Society of Motor Manufacturers and Traders (SMMT) shows that the number of new car registrations fell by 17.5 per cent last month compared with August 2009, when the car scrappage scheme was encouraging drivers to trade up.

The decline marks the second consecutive monthly fall, a trend the SMMT believes is set to continue for car insurance customers until the end of the year.

SMMT chief executive Paul Everitt said: "The industry enjoyed a better than expected first half of the year and, despite the difficulties, SMMT is forecasting that new car registrations will close just ahead of 2009 figures."

Additionally, the market for the new 60 plate cars is expected to decline by about ten per cent in September.ADNFCR-3010-ID-19936377-ADNFCR

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