UPDATE 1-UK new car sales up by 29.8 pct yy in Jan

LONDON, Feb 4 (BestGrowthStock) – New car sales in Britain rose by
nearly a third on the year in January, after the government’s
scrappage scheme for old cars boosted demand for a seventh
successive month, industry figures showed on Thursday.

The Society of Motor Manufacturers and Traders said that
145,479 new cars were sold in January, 29.8 percent more than a
year ago, but was downbeat for the rest of 2010, expecting a 9
percent fall in vehicle sales compared with 2009 as a whole.

The scrappage incentive, which boosted the economy during
the depths of the recession, is about to be phased out, with the
government announcing late on Wednesday that it would expire at
the end of next month. [ID:nLDE6122U9]

“Industry expects another difficult year, with the
availability of finance, consumer confidence and sustaining
demand post-scrappage key to performance in the second half of
the year, said SMMT chief executive Paul Everitt.

Ford (F.N: ) made January’s two top-selling models, the Fiesta
supermini and mid-sized Focus. General Motors’ Vauxhall Corsa
supermini and Volkswagen’s (VOWG_p.DE: ) Polo equivalent were in
third and fourth place respectively.

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(Reporting by David Milliken and Keith Weir; Editing by Toby
Chopra)

UPDATE 1-UK new car sales up by 29.8 pct yy in Jan