Monday, Sep 06, 2010
New car sales halved in August
Thisismoney: New car sales decimated in August
Cutting through the froth sales down 17.5% on August last years figures as punters presumably run out of free money.
Posted by enuii @ 06:28 PM (1033 views) Add Comment
8 Comments
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1. Crunchy said...
"The Ford Fiesta was the best-selling model last month and is also the top-selling car in 2010."
It may be the only selling model next month. I thought 17.5 was an engines cc capacity.... Shocking!
Let's see if the deflationists get their way, other than driving out of the showroom with a flat tyre and an ego to match.
- What happened to the men that worked on their old Fiesta's that just got them to work and fishing.
Did they all become suburban curtain twitchers or wives to technology, houses, banks and queue stopping plastic cards.... Shocking!
2. str 2007 said...
Interesting how it's fallen for two months running just like the nationwide house price index. August is a quiet month because of the new September reg. So it will be interesting to see what happens next month.
3. uncle tom said...
Always quite a good sentiment indicator, but one has to take year on year figures (as this stat does) rather than month on month, which get slewed by the registation game.
Other bull indicators are big cars selling well (current top seller is the Fiesta, so not so good..) and, strange but true; silver cars - which people buy when they're confident, but not othewise..
..see how many silver 60 registrations you can spot.. :)
4. str 2007 said...
Hi UT
Where are you getting your info from as it's not in the article ?
I bought a silver car to play safe because I thought I could sell it easily again. IMO colour is more trend based.
If I was feeling bullish it would effect the car more than colour.
So watch out for me in a bright green or orange lambourgini when house prices are 50 percent down LOL.
Also, I know 3 series BMW's out sold Monroe but alot of that was due to lower depreciation of the BMW making it not that much more to lease.
But you'd never expect a 7 series to outsell a fiesta surely. And as of late fiesta sales are likely down to oap's using savings and scalage schemes I'd have thought.
But you're right y o y is a better indicator, which is down and could be an indicator.
5. str 2007 said...
Mondeos that should have been.
6. stillthinking said...
The scrappage scheme brought demand forward but did not increase overall demand. So the people who would have been buying cars now already have them.
Bring demand forward is a mistake IMO. Much better to have a steady level rather than a boost and then a slump, inside a slump.
7. mr g said...
For some reason there appears to be a hell of a lot more "60" plates here in West Yorkshire than say "10" or "59" plates when they were first issued.
8. the number cruncher said...
As a small economic indicator Mazda used to give me a fee pick up truck for my work (and had been for about 10 years) and took it back as soon as sales dipped in 2008. When I get a new truck I shall consider the recession/depression over, and not a day before.
I will keep you posted and write a letter to the Chancellor and Governor of the Bank of England on that day.