Almost 290,000 new car registrations have occurred as part of the government's scrappage scheme, motor trade insurance holders have been informed.

The Society of Motor Manufacturers and Traders (SMMT) has revealed that motor trade insurance holders have seen 284,479 new car registrations so far as people seek to trade in their older vehicles for brand new models.

Paul Everitt, chief executive of the SMMT, said that number will remain high as people attempt to take advantage of the deal before it ends in February.

"Alongside the economic benefits, the scheme has helped to promote the take-up of cleaner, safe and more fuel-efficient vehicles," Mr Everitt commented.

Meanwhile, Christian Klinger, Volkswagen's board member responsible for sales and marketing, told the Daily Telegraph that motor trade insurance customers may see fewer sales this year due to the weakness of the pound against the euro and the end of the scrappage scheme.

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