Jump to content
House Price Crash Forum
interestrateripoff

Uk New Car Sales Highest Since 2007, Smmt Says

Recommended Posts

http://www.bbc.co.uk/news/business-25632668

UK car sales in 2013 recorded their best year since 2007, industry figures have shown, helped by cheap credit deals and stronger consumer confidence.

The Society of Motor Manufacturers and Traders (SMMT) said that 2.26 million vehicles were registered in 2013.

That was a 10.8% rise on 2012, although the figure is 6% lower than 2007's 2.4 million figure.

It means that the UK overtook France to become Europe's second-biggest car market, after Germany.

Great news more borrowing = more recovery.

Share this post


Link to post
Share on other sites

My wife needs( wants ) a new car and I've been looking about.

The number of pre-registered cars that are available and have been sitting on car companies fore-courts since September is extraordinary.

I smell that lovely fresh smell of a brand new rat.

Share this post


Link to post
Share on other sites

The UK's best-sellers in 2013

Ford Fiesta: 121,929

Ford Focus: 87,350

Vauxhall Corsa: 84,275

Vauxhall Astra: 68,070

Volkswagen Golf: 64,951

Nissan Qashqai: 50,211

Do they say how many are mobility cars anywhere? A Vauxhall Astra, Inginia and Citreon C4 are all disability freebies round here.

Share this post


Link to post
Share on other sites

I've noticed near me, those that bought small newbuilds around 2005-2007, are buying brand new cars that probably cost about 50% of what their house is 'worth', as they see it 'stuck with negative equity' instead of paying down the mortgage while rates are low, they stay put and buy a nice BMW/AMG Merc/Range Rover Evoque etc. instead.

Daft.

Share this post


Link to post
Share on other sites

I've noticed near me, those that bought small newbuilds around 2005-2007, are buying brand new cars that probably cost about 50% of what their house is 'worth', as they see it 'stuck with negative equity' instead of paying down the mortgage while rates are low, they stay put and buy a nice BMW/AMG Merc/Range Rover Evoque etc. instead.

Daft.

A good friend of mine who is quite open about his finances is in the current position:

0 equity in house

Interest only mortgage

Being made redundant.

Works in financial sector

Mid forties

last year he traded in his car ( Audi ) which he owned but had just had some big repair bills for a brand new VW scirocco on a lease deal.

They took the car and he pays around £200 ( if memory serves me right ) for 3 years to drive the car.

After the 3 years he can agree to take out another lease or leave the deal...with nothing.

That 200 a month should be getting used to pay down his mortgage, but he said and I quote...."I got a great deal on a brand new car".

My friend is effectively renting their house and their car.

They own nothing but think they are doing well !!!

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Motability is a Scheme in the United Kingdom that enables disabled people, their families and their carers to lease a new car, scooter or powered wheelchair, using their Government funded mobility allowance. Currently the Motability Scheme has more than 600,000 customers.

Motability Operations’ annual turnover is around £990 million with assets worth £2.5 billion. Any surpluses are continually reinvested in the business. Motability Operations sells over 130,000 used cars a year and the company's car purchases account for approximately ten percent of total new car sales in the UK. Since the Scheme started, over three million cars have been supplied.

http://en.wikipedia.org/wiki/Motability

How many have a car out of that number?

So that's that many new cars every three years.

Edited by SarahBell

Share this post


Link to post
Share on other sites

Time to buy a good, one careful owner low mileage ex-scrappage car..... ;)

Used prices seem a bit stiff, doubtless aided by PPI refunds flowing into the used car market at all levels, as well as the PCP arrangements for new cars since the average refund of £2,700 is enough for a deposit on many models for financing arrangements.

Edited by The B.L.T.

Share this post


Link to post
Share on other sites

Used prices seem a bit stiff, doubtless aided by PPI refunds flowing into the used car market at all levels, as well as the PCP arrangements for new cars since the average refund of £2,700 is enough for a deposit on many models for financing arrangements.

...so the new way of doing business is doing things wrong, getting caught and refunding part of it back into society to spend at a future date......blame and claim = money turnover.....everyone getting their piece of the guilty pie...... ;)

Share this post


Link to post
Share on other sites

...so the new way of doing business is doing things wrong, getting caught and refunding part of it back into society to spend at a future date......blame and claim = money turnover.....everyone getting their piece of the guilty pie...... ;)

I remember the good old days when a £1Billion was a lot of money when what you describe above was called theft or fraud, thankfully these days it's an acceptable banking practise, well done gordon brown, he has freed the bankers from conventional morality.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

...so the new way of doing business is doing things wrong, getting caught and refunding part of it back into society to spend at a future date......blame and claim = money turnover.....everyone getting their piece of the guilty pie...... ;)

I remember the good old days when a £1Billion was a lot of money when what you describe above was called theft or fraud, thankfully these days it's an acceptable banking practise, we done gordon brown, he has freed the bankers from conventional morality.

Share this post


Link to post
Share on other sites

Time to buy a good, one careful owner low mileage ex-scrappage car..... ;)

You must have seen it in my drive? :o

Share this post


Link to post
Share on other sites

Innovative stuff.

http://www.bbc.co.uk/news/business-25632668

Industry analysts say that attractive financing deals have tempted buyers, with three-quarters of sales to private buyers now involving some kind of financing package.

I heard a quote on BBC radio from an SMMT guy who said that the financing/PPI aspect to new sales was not an issue going forward (ie after the cash runs dry) simply because the 3 or 4 year replacement cycle will have been established, which is regarded as a good thing for the industry. I took this to mean: "They'll need another car and sure as sh*t won't have the balloon payment sitting in the bank, so another PCP it is. Ad infinitum".

I can't help but feel people will eventually tire of driving new metal while sifting the reduced aisles at Tesco.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   212 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.