Some 324,991 new cars were registered through the UK scrappage scheme by the end of February with the scheme accounting for 19.6% of all new car registrations in February.

LCV registrations total 5,460 units between May to February, 3.8% of the total LCV market.

Average CO2 emissions of a car bought through the scheme were 132.7g/km, 9.9% below the overall new car market average and 27.0% below a scrapped car’s figure, the SMMT said.

Commenting on the data, SMMT chief executive Paul Everitt said, “The scrappage scheme ends this month and has provided a vital stimulus during a difficult period.  The scheme has lifted the market from the lows of early 2009, with around 330,000 registrations by the end of February.  Industry must now work to sustain this momentum and is urging government to postpone the introduction of the first year rate of VED and avoid dampening demand while the economic recovery remains fragile.”

The scrappage scheme accounted for 19.6% of all new car registrations in February (LCV 4.5%), on par with the 20.4% share taken over the May 2009 to February period (LCV volumes 3.8%).

Analysts will be particularly interested in the evolution of the UK car market over the next few months. March of last year was low, so we can expect to see a strong March this year, in comparison. And much of the March recovery will be attributable to scrappage. Final orders through the scheme must be made by the end of March, or sooner if funds run out. The scheme’s impact will diminish during Q2 with market decline expected in the second half of 2010.

Average CO2 emissions, g/km
New cars registered through the scheme had an average CO2 value of 132.7g/km. This was 9.9% lower than the 147.3g/km average for all new cars registered between May 2009 and February 2010, and 27.0% below the average CO2 of the scrapped car.  The average CO2 emissions of an old car scrapped through the scheme is estimated to be 181.8g/km (based on weighted segment data for 1997 vintage cars, with the average age of scrapped cars being 12.7 years).

SIS registrations by segment
Over the May to February period 73.0% of all cars registered through the scheme were from the mini and supermini segments. These two segments accounted for 42.0% of all cars registered over the same period.