Vertu Share News (VTU)

Car dealer Vertu says trading in the period to 31 January 2010 has remained ahead of budget and full year figures will exceed market consensus expectations. The scrappage scheme has helped new car sales, with like-for-like volumes up 18.6%. Used vehicle like-for-like volumes declined by 9% in the period from September to January."The outlook for the remainder of 2010 remains uncertain, particularly in the new car sales area. The ending of the scrappage programme, January's rise in VAT, the introduction of the new car "showroom" tax in April and continued strength in the Euro against Sterling all indicate that new car sales to private customers will decline over the remainder of the year," Vertu added.