Saturday, Oct 06, 2007
Credit Crunch Not Affecting New Car Sales Yet
Auto Industry News UK: September UK new car registrations rise 1.3%
September 2007 total new car sales up 1.3% on last September when the Society of Motor Manufacturers and Traders had expected a 0.7% fall. Octobers and Novembers figures should be a lot more interesting though as tightened credit and falling property prices start to bite.
Posted by enuii @ 11:40 AM (402 views) Add Comment
4 Comments
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1. Robh said...
Earlier in the week there was a BBC article about problems with used car sales... because of reductions in new car prices
I wonder what the 'total car sales' figure from dealerships is
2. Drewster said...
This is very confusing. We really should have seen a big fall in new car sales, as people have less spare cash (inflation + higher mortgage payments). One possible reason is that more cars were sold, but mainly smaller and cheaper cars. New car sales depend on consumer confidence, which depends on employment levels. This must be a lagging indicator which is why it remains high.
3. Jj said...
But look around , there are many deals for free insurance, 4 years 0% interest free credit and also the leasing where you don't actually own the car over the loan period. People are stretched now that these offers appeal far better than a loan from a bank or building society in the current credit crunch turmoil. Most won't be able to obtain a loan for a new car now.
4. whiteknight said...
soon enough. soon enough. Watch the financing vehicles (as in entities) aswell. All this will behvae like modern day front crumple zone.