IMI News

IMI Latest Quarterly Update

The quarterly industry update provides an up to date view of the retail automotive sector by analysing employment and vehicle sales figures, amongst other key performance indicators.

The UK economy came out of recession in the final quarter of 2009, rising 0.4% on the previous quarter. Positive, though slightly slower growth was also witnessed through the first quarter of 2010 with GDP up 0.3%. Going forward the economy is expected to continue to exhibit signs of recovery although economists warn of uncertainty ahead given the ongoing turbulence in the eurozone debt market as well as a sharp squeeze on public spending.

With regards to the Automotive Sector, the Society for Manufacturers and Motor Traders (SMMT) reported the 12th successive monthly rise in new car registrations in June, up 10.8% compared with the same month a year previously.  Overall the new car market has seen stronger than expected growth through the early part of 2010, but a modest decline in registrations is anticipated in the second half of the year as the impact of the end of the scrappage scheme is felt.

Click here to view both the full and key findings reports.