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New Car Sales Fell Again Last Month

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http://www.independent.co.uk/news/business/news/new-car-sales-fell-again-last-month-2307692.html

New car sales dipped again last month.

There were 183,125 new registrations in June - 6.2% down on the June 2010 total, the Society of Motor Manufacturers and Traders (SMMT) said.

This was the 12th successive month that sales, which were boosted last year by the Government's car scrappage scheme, have fallen.

Registrations for the first six months of 2011, at 1,029,638, were down 7.1% on the scrappage-boosted January-June 2010 period.

It's the carless recovery.

No surprises really that the scrappage scheme brought forward demand and now it's declined. Sales are finding there natural level but no doubt we'll hear calls for more market distortion and ideas to bring demand forward to boost sales.

Viva recovery.

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Real news is Japs not discounting so they don't diminish inventory, Germans with lead times of months and even ford announcing they're happy to keep margin rather than market share. Expect higher prices on lower sales all round.

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Weakest stimulus program ever.

It raised prices. Now, in combination with other stimulus which has also raised running costs disproportionately people are ditching their cars or trying to curtail their use. If they can;t do that then other budgets get cut and they ditch other expenditure.

Marvelous result - don;t tell me you think it would have had a better result if they had stimulated more? :lol:

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Real news is Japs not discounting so they don't diminish inventory, Germans with lead times of months and even ford announcing they're happy to keep margin rather than market share. Expect higher prices on lower sales all round.

And job losses?

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Im not surprised the scrapage scheme brought forwards thousands of purchases.

They need to drop their prices, since they put them up to take advantage of the car scrapage/free tax payers money.

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Im not surprised the scrapage scheme brought forwards thousands of purchases.

They need to drop their prices, since they put them up to take advantage of the car scrapage/free tax payers money.

Funny thing is, in 'normal' times, a family of our age and income would be normal middle of the road new car buyers.

Now, even something as middle-of-the-road as a Focus Estate (not much change from £15k) is way out of reach - at least without taking on some serious debt. So.. who IS buying new cars?

Actually, I can answer that.. my parents got a brand new Fiesta - which has too many electronics for them to cope with..and their friends got a new Jag.. ditto.

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I read on one of the car blogs (autoblog or jalopnik, i forget which) that the Spaniards extended theirs/had scrappage 2, which by then had no effect on sales.

You cant force people to buy depriciating assets. They should force them to buy gold or houses or something that appreciates.

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Brother getting nervous working for a large second hand car company, trader sales dropping hard and fast so it sounds like people are actually starting to give up on the car. Mindu its not like train travel is a bargain either.

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Brother getting nervous working for a large second hand car company, trader sales dropping hard and fast so it sounds like people are actually starting to give up on the car. Mindu its not like train travel is a bargain either.

Chimes with my anecdotal of one friend who is giving up on a car.

So 2008 what is happening now. The inflation then ripped up the budget of many, the same is happening again, except this time the banksters want more of the same.

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The price of petrol can't be helping car sales.

If, when, we buy a house, it will be in a large town, near shops, train station etc so we can WALK.

Better add +10-30% onto your price range then as everyone else has already done the same thing. That's how it works in Cambridge anyway.

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Funny thing is, in 'normal' times, a family of our age and income would be normal middle of the road new car buyers.

Now, even something as middle-of-the-road as a Focus Estate (not much change from £15k) is way out of reach - at least without taking on some serious debt. So.. who IS buying new cars?

Actually, I can answer that.. my parents got a brand new Fiesta - which has too many electronics for them to cope with..and their friends got a new Jag.. ditto.

With rising productivity it should be easier for your average family to afford a new car. It is quite amazing in autos, just since 1990 they have reduced the labour involved in building it by 66%. Its probably the most advanced area with robotics.

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I've had two Junk mail letters addressed personally to me and one email from car companies BMW, Vauxhall and ford. All in the last week. I've never received anything of this type before and Im always careful with my personal details. The only place I can think they could have got my name, address and email is my bank Santander. I moved around £20k from one savings account to another and I reckon they've sold my details to car companies.

Either that or they are getting desperate and randomly sending spam letters and emails.

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Funny thing is, in 'normal' times, a family of our age and income would be normal middle of the road new car buyers.

Now, even something as middle-of-the-road as a Focus Estate (not much change from £15k) is way out of reach - at least without taking on some serious debt. So.. who IS buying new cars?

Actually, I can answer that.. my parents got a brand new Fiesta - which has too many electronics for them to cope with..and their friends got a new Jag.. ditto.

Living standards are falling, and IMO they'll keep falling for many years, so it's reasonable to expect that the quality and size of cars we drive will decline. Some people will be pushed out of car ownership altogether (I know a few people in London who are "enthusiastic" new scooter owners, I suspect the choice was driven out of necessity), some people will lay their car up in a drive hoping for better times ahead, and some people will downgrade.

Car manufacturers will respond and we'll see smaller models being launched with smaller engines and reduced spec lists. It'll take years for the "new reality" to be really noticeable, but inch by inch we'll see declining living standards manifested in just about all areas of consumption.

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http://www.metro.co.uk/news/868690-petrol-sales-slump-by-a-billion-litres-as-motorists-react-to-rising-prices

Petrol sales slump by a billion litres as motorists react to rising prices

Fuel sales have slumped as motorists feel the impact of soaring petrol prices, according to the AA.

Related Tags:

Edmund King

David Cameron

Fuel sales Fuel sales have seen a dramatic slump

The motoring organisation said 1billion fewer litres of fuel were sold in the first three months of this year compared with the same period before the financial crisis in 2008.

‘Our study shows the real impact of record pump prices,’ said AA president Edmund King. ‘The full impact of higher VAT, unbridled market speculation and a weaker pound on fuel prices and drivers’ ability to afford them have been laid bare.’

Compared with the same period in 2008, service stations saw a 15.2 per cent dip in petrol sales and a six per cent fall in diesel in the three months to March.

That equates to a £637.8million hit to the treasury in lost taxes.

Last month, a litre of unleaded petrol stood at a record high of 136.1p, diesel 139.9p and super unleaded at 143.4p.

Read more: http://www.metro.co.uk/news/868690-petrol-sales-slump-by-a-billion-litres-as-motorists-react-to-rising-prices#ixzz1RV4q2kIv

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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